Netflix Adds 8 Million Subscribers as Password Crackdown and Hit Shows Pay Off

The streaming giant surpasses expectations with strong growth, driven by popular titles and strategic changes to its subscription plans.

Netflix's subscriber base grew by 8 million in Q2 2024, reaching 277 million globally.
The crackdown on password sharing and popular shows like Bridgerton and Baby Reindeer contributed to the surge.
Netflix's ad-supported tier saw a 34% increase in memberships, though ad revenue remains a challenge.
The company is phasing out its cheapest ad-free plan in the U.S. and France to boost its ad-supported tier.
Despite growth, Netflix cautions that the impact of the password-sharing crackdown may diminish in the coming months.