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Netflix Cracks Down on Password Sharing, Adds Millions of New Subscribers

  • Netflix gained 5.9 million new subscribers in the second quarter after expanding its crackdown on password sharing.
  • The company beat earnings expectations but fell slightly short on revenue projections, causing a stock drop.
  • Netflix introduced cheaper ad-supported plans and removed its lowest-priced ad-free option.
  • Ongoing strikes by Hollywood writers and actors have disrupted content production.
  • Netflix aims to accelerate revenue growth through pricing changes, advertising, and preventing password sharing.
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