Netflix on Wednesday said subscriber numbers grew nearly 11 per cent to 247 million in the recently ended third quarter as it cracked down on password sharing and refined an ad-supported tier.

The leading streaming service said it is increasing the price of its basic plan in the United States to $11.99 monthly and its premium plan to $22.99, with similar price "adjustments" set for Britain and France.

"While we mostly paused price increases as we rolled out paid sharing... as we deliver more value to our members, we occasionally ask them to pay a bit more," Netflix said in the letter to shareholders.

Netflix shares leapt more than 12 per cent to $43.31 in after-market trades on the Nasdaq exchange.

The streaming service said in an earnings report that its nascent ad-supported offering was gaining traction, with the number of users increasing nearly 70 per cent over the quarter.

Netflix reported a profit of $1.68 billion on revenue of $8.5 billion in the quarter, beating market expectations with its earnings figures.

"All-in-all, management's working hard to squeeze every last drop of cash possible from the available subscriber base, but as that cup begins to run dry, it will be a lot more important to understand exactly how successful the next phase of growth can be," said Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown.

In May the Silicon Valley giant expanded its crackdown on users sharing passwords with people beyond their immediate family, as it seeks to shore up revenue.

To convert non-paying users, Netflix has introduced "borrower" or "shared" accounts, in which subscribers can add extra viewers for a higher price, or transfer viewing profiles to new accounts.

In a separate bid for revenue, Netflix launched an ad-subsidized offering around the same time as the crackdown and later eliminated its lowest priced ad-free plan.

The ad-supported tier, launched late last year, costs $7.

- Actors strike -

The earnings report came as Netflix and other film and television makers see productions halted by an actors strike in the United States.

"We are incredibly and totally committed to ending this strike," Netflix co-chief executive Ted Serandos said during an earnings presentation.

"The industry, our communities and the economy are all hurting so we need to get a deal done that respects all sides as soon as we possibly can."

Hollywood writers had also been on strike, but came to a tentative agreement with studios just weeks ago.

During the strike, Netflix said it was relying on productions ready for release and a large base of upcoming films and shows from around the world.

A Netflix adaptation of Japanese manga comic One Piece was watched more than 18 million times in its first four days, putting it at the top of the charts.

The story of Monkey D Luffy, a boy with a straw hat and stretchy superpowers determined to become king of all pirates by finding a treasure known as the "One Piece" has captivated manga fans since its first editions in 1997.

"We continue to focus on improving our slate, with best-in-class originals and licensed titles from around the world," Netflix told shareholders in the letter.

Netflix cited popular shows including One Piece,&nbsp;Class Act&nbsp;out of France, and Guns &amp; Gulaabs&nbsp;from India.

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Netflix on Wednesday said subscriber numbers grew nearly 11 per cent to 247 million in the recently ended third quarter as it cracked down on password sharing and refined an ad-supported tier.

Netflix on Wednesday said subscriber numbers grew nearly 11 per cent to 247 million in the recently ended third quarter as it cracked down on password sharing and refined an ad-supported tier. The leading streaming service said it is increasing the price of its basic plan in the United States to $11.99 monthly and its premium plan to $22.99, with similar price "adjustments" set for Britain and France. "While we mostly paused price increases as we rolled out paid sharing... as we deliver more value to our members, we occasionally ask them to pay a bit more," Netflix said in the letter to shareholders. Netflix shares leapt more than 12 per cent to $43.31 in after-market trades on the Nasdaq exchange. The streaming service said in an earnings report that its nascent ad-supported offering was gaining traction, with the number of users increasing nearly 70 per cent over the quarter. Netflix reported a profit of $1.68 billion on revenue of $8.5 billion in the quarter, beating market expectations with its earnings figures. "All-in-all, management's working hard to squeeze every last drop of cash possible from the available subscriber base, but as that cup begins to run dry, it will be a lot more important to understand exactly how successful the next phase of growth can be," said Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown. In May the Silicon Valley giant expanded its crackdown on users sharing passwords with people beyond their immediate family, as it seeks to shore up revenue. To convert non-paying users, Netflix has introduced "borrower" or "shared" accounts, in which subscribers can add extra viewers for a higher price, or transfer viewing profiles to new accounts. In a separate bid for revenue, Netflix launched an ad-subsidized offering around the same time as the crackdown and later eliminated its lowest priced ad-free plan. The ad-supported tier, launched late last year, costs $7. - Actors strike - The earnings report came as Netflix and other film and television makers see productions halted by an actors strike in the United States. "We are incredibly and totally committed to ending this strike," Netflix co-chief executive Ted Serandos said during an earnings presentation. "The industry, our communities and the economy are all hurting so we need to get a deal done that respects all sides as soon as we possibly can." Hollywood writers had also been on strike, but came to a tentative agreement with studios just weeks ago. During the strike, Netflix said it was relying on productions ready for release and a large base of upcoming films and shows from around the world. A Netflix adaptation of Japanese manga comic One Piece was watched more than 18 million times in its first four days, putting it at the top of the charts. The story of Monkey D Luffy, a boy with a straw hat and stretchy superpowers determined to become king of all pirates by finding a treasure known as the "One Piece" has captivated manga fans since its first editions in 1997. "We continue to focus on improving our slate, with best-in-class originals and licensed titles from around the world," Netflix told shareholders in the letter. Netflix cited popular shows including One Piece, Class Act out of France, and Guns & Gulaabs from India. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Netflix gains subscribers with ads and password crackdown

Netflix has provided an update on its efforts to curb password-sharing among users, stating that the crackdown has been effective in several countries. The initiative has now been extended to over 100 countries, accounting for more than 80 per cent of Netflix's revenue base. The company started targeting password-sharing in the US in May, following earlier trials in several international markets since February. Despite the action taken, Netflix has reported a minimal number of account cancellations as a result of this measure.

The majority of users appear to be converting their borrowed accounts into full-paying memberships or opting for the option to add an extra member to their account for a fee.

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Under the new policy, Netflix accounts are restricted to one household, with the account holder having the choice to add a member outside of their home at an additional cost. The company is now set to address account sharing in almost all remaining countries, including India. However, in these countries, Netflix will not offer the option to pay for an extra member, as per The Hollywood Reporter, as it has recently lowered subscription prices there.

Also Read:&nbsp;<a href="https://www.wionews.com/technology/netflix-adds-nearly-6mn-new-subscribers-amid-widening-password-sharing-crackdown-617654">Netflix adds nearly 6mn new subscribers amid widening password-sharing crackdown</a>

<h2>What led to Netflix ending password-sharing?</h2>

The streaming giant suffered losses in April 2022 when it lost a million subscribers. The company reported that about 200,000 subscribers said goodbye to their subscriptions, which was the first time in more than a decade that the company lost users, instead of gaining them.

The execs had actually expected to gain 2.5 million subscribers. Then between April and July, the service lost almost a million more subscribers. But it had expected an even bigger drop, and the losses were somewhat curtailed by Stranger Things 4, which debuted in two volumes in 2022.&nbsp;

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<h2>Behind Netflix's enduring&nbsp;issues</h2>

Netflix mainly relies on its original content to garner and retain its subscriber base. But there are high costs associated with producing originals and acquiring legacy content from other studios. The company has also had a heavy investment in international markets in the last few years.

Also, it has a subscription-based model, and it is dependent on constant subscriber growth to generate revenue. If the company's subscriber growth slows down or if it experiences a decline in subscriber retention, as it did, it severely impacts its financial performance. The streaming market is becoming more competitive and subscriber retention is becoming more challenging for Netflix.&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/entertainment/hollywood/news-explained--why-netflix-might-survive-hollywood-strikes-of-actors-writers-617032">Explained | Why Netflix might survive Hollywood strikes of actors, writers</a>

As of now, the company has bounced back, financially speaking.

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Netflix has provided an update on its efforts to curb password-sharing among users, stating that the crackdown has been effective in several countries. The initiative has now been extended to over 100 countries, accounting for more than 80 per cent of Netflix's revenue base.

Netflix has provided an update on its efforts to curb password-sharing among users, stating that the crackdown has been effective in several countries. The initiative has now been extended to over 100 countries, accounting for more than 80 per cent of Netflix's revenue base. The company started targeting password-sharing in the US in May, following earlier trials in several international markets since February. Despite the action taken, Netflix has reported a minimal number of account cancellations as a result of this measure. The majority of users appear to be converting their borrowed accounts into full-paying memberships or opting for the option to add an extra member to their account for a fee. Under the new policy, Netflix accounts are restricted to one household, with the account holder having the choice to add a member outside of their home at an additional cost. The company is now set to address account sharing in almost all remaining countries, including India. However, in these countries, Netflix will not offer the option to pay for an extra member, as per The Hollywood Reporter, as it has recently lowered subscription prices there. Also Read: Netflix adds nearly 6mn new subscribers amid widening password-sharing crackdown What led to Netflix ending password-sharing? The streaming giant suffered losses in April 2022 when it lost a million subscribers. The company reported that about 200,000 subscribers said goodbye to their subscriptions, which was the first time in more than a decade that the company lost users, instead of gaining them. The execs had actually expected to gain 2.5 million subscribers. Then between April and July, the service lost almost a million more subscribers. But it had expected an even bigger drop, and the losses were somewhat curtailed by Stranger Things 4, which debuted in two volumes in 2022. Behind Netflix's enduring issues Netflix mainly relies on its original content to garner and retain its subscriber base. But there are high costs associated with producing originals and acquiring legacy content from other studios. The company has also had a heavy investment in international markets in the last few years. Also, it has a subscription-based model, and it is dependent on constant subscriber growth to generate revenue. If the company's subscriber growth slows down or if it experiences a decline in subscriber retention, as it did, it severely impacts its financial performance. The streaming market is becoming more competitive and subscriber retention is becoming more challenging for Netflix. Also Read: Explained | Why Netflix might survive Hollywood strikes of actors, writers As of now, the company has bounced back, financially speaking. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Netflix says password-sharing crackdown proved effective, boosted subscriber retention

Netflix has finally pulled&nbsp;the trigger of&nbsp;its password-sharing crack down, and the first fatality is its 2017 social media comment that said 'love is sharing a password'.

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For Netflix subscribers, love is no longer sharing a password. Love now is paying for your friend's&nbsp;password so they can stream through their entertainment quota on a given day.

From May 24, if you listen to the top streaming platform's famous ta-dum sound at the start of your binge, somebody else pays for it. Then, well, that will no more be the case at least in the United States.

To be clear, while Netflix has been <a href="Netflix to launch paid password-sharing feature after subscriber numbers hit record high">experimenting with its anti-password sharing</a> test for the past many months in countries like Portugal, Canada, New Zealand and Spain — the rollout of password sharing ban outside a single household is currently taking place in the United States.

Starting May 24, Netflix will send an email about its password-sharing policies to members who share Netflix outside their household in the United States.

The password-sharing crackdown was originally supposed to start in the United States at the beginning of this year. But the streaming giant pushed it again in April to the month of May.

<h2>Netflix password-sharing: How much will it cost?</h2>

If a Netflix subscriber in the United States has a Netflix Standard plan that costs $15.49 per month, then they will have the option of adding one extra member who can use the service outside their household for $7.99 extra each month.&nbsp;

The subscribers to Netflix Premium package with 4K streaming will have the option of adding up to two extra members, each one costing $7.99 per head.&nbsp;

Netflix subscribers on its two cheapest plans (Basic or Standard with Ads, which cost $9.99 and $6.99 per month, respectively) do not have the option to add extra members to their account at all.

<h2>Netflix password-sharing: How to add an extra member?</h2>

According to a Netflix support page that&nbsp;explains the new setup, "extra members" will have their own password and profile. But they will be paid for by the person who "invited" them to join.&nbsp;

Extra member accounts must be activated in the same country. They can only view or download content on one device at a time.

<h2>Why is Netflix cracking down on passwords?</h2>

In April 2022, it was revealed that more than 100 million households were getting Netflix through password sharing. This was the same time when the company revealed it lost subscribers for the first time in over a decade.&nbsp;

ALSO WATCH |&nbsp;Netflix faces its worst year in a decade, hints at crackdown on password sharing

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After April 2022, as part of its strategy to turn around the subscriber growth, Netflix began cracking down on password sharing. 
 
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Netflix has finally pulled the trigger of its password-sharing crack down, and the first fatality is its 2017 social media comment that said 'love is sharing a password'.

Netflix has finally pulled the trigger of its password-sharing crack down, and the first fatality is its 2017 social media comment that said 'love is sharing a password'. For Netflix subscribers, love is no longer sharing a password. Love now is paying for your friend's password so they can stream through their entertainment quota on a given day. From May 24, if you listen to the top streaming platform's famous ta-dum sound at the start of your binge, somebody else pays for it. Then, well, that will no more be the case at least in the United States. To be clear, while Netflix has been experimenting with its anti-password sharing test for the past many months in countries like Portugal, Canada, New Zealand and Spain — the rollout of password sharing ban outside a single household is currently taking place in the United States. Starting May 24, Netflix will send an email about its password-sharing policies to members who share Netflix outside their household in the United States. The password-sharing crackdown was originally supposed to start in the United States at the beginning of this year. But the streaming giant pushed it again in April to the month of May. Netflix password-sharing: How much will it cost? If a Netflix subscriber in the United States has a Netflix Standard plan that costs $15.49 per month, then they will have the option of adding one extra member who can use the service outside their household for $7.99 extra each month. The subscribers to Netflix Premium package with 4K streaming will have the option of adding up to two extra members, each one costing $7.99 per head. Netflix subscribers on its two cheapest plans (Basic or Standard with Ads, which cost $9.99 and $6.99 per month, respectively) do not have the option to add extra members to their account at all. Netflix password-sharing: How to add an extra member? According to a Netflix support page that explains the new setup, "extra members" will have their own password and profile. But they will be paid for by the person who "invited" them to join. Extra member accounts must be activated in the same country. They can only view or download content on one device at a time. Why is Netflix cracking down on passwords? In April 2022, it was revealed that more than 100 million households were getting Netflix through password sharing. This was the same time when the company revealed it lost subscribers for the first time in over a decade. ALSO WATCH | Netflix faces its worst year in a decade, hints at crackdown on password sharing × After April 2022, as part of its strategy to turn around the subscriber growth, Netflix began cracking down on password sharing. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Netflix to curb password-sharing outside family, allow it on extra payment

Netflix accidentally launched a set of guidelines for its measures to curb password sharing for global users, reported The Guardian. The measures, which are already being tried in a handful of Central American and South American countries like Chile, Peru, and Costa Rica, were posed accidentally in the help centre pages of other countries. They have now been taken down.

“For a brief time yesterday, a help center article containing information that is only applicable to Chile, Costa Rica, and Peru went live in other countries. We have since updated it," said the streamer.

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Netflix's method to stop password sharing necessitates the user to connect their device and open the Netflix app and watch something every 31 days. The company will use information like IP addresses, device IDs, and account activity to ensure the device is present at the primary location of the user.&nbsp;

If you are travelling, you can request a temporary code to log into Netflix. We do not know for certain whether Netflix will implement this particular method. And yes, others may use the Netflix account, but they will be required to pay a fee.

Also Read:&nbsp;<a href="https://www.wionews.com/entertainment/hollywood/news-do-you-share-your-netflix-account-with-friends-or-family-be-prepared-to-pay-extra-soon-527067">Do you share your Netflix account with friends and family? Be prepared to pay extra soon</a>

Critics are saying many used Netflix because compared to piracy, it was more convenient to do so. Now, with the company making it difficult to use its own service again, it might achieve exactly the opposite of what it wishes. This is to say, it may lose even more subscribers.

Ever since Netflix lost 200,000 subscribers last year, which was the first such setback to the company in more than a decade, the streamer has decided to implement a number of ways to recover from the loss. Apart from the crackdown on password sharing that is prevalent particularly in the Global South, the company has also introduced cheaper, ad-supported plans. These methods are expected to go live worldwide in the first quarter of 2023.

Also Read:&nbsp;<a href="https://www.wionews.com/entertainment/hollywood/news-explained--reed-hastings-steps-down-from-netflix-inside-story-of-the-streaming-giants-rise-and-struggle-554572">EXPLAINED | Reed Hastings steps down from Netflix: Inside story of the streaming giant's rise and struggle</a>

Netflix's troubles really began when legacy film studios like Disney and Warner Bros decided to jump on the streaming bandwagon with services like Disney+ and Warner Bros and began to eat into Netflix's share. Unlike Netflix, these services come bundled with several decades of legacy content, including millions of hours of well-loved, and rewatch-friendly TV shows like Lizzie McGuire (in the case of Disney +) and 'Friends' (in the case of HBO Max).&nbsp;

With a few exceptions of shows and movies licensed from other studios, Netflix has only new content to fall back on. And in an increasingly crowded space, it has increasingly struggled to market and promote its shows and movies.&nbsp;

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Netflix accidentally launched a set of guidelines for its measures to curb password sharing for global users, reported The Guardian. The measures, which are already being tried in a handful of Central American and South American countries like Chile, Peru, and Costa Rica, were posed accidentally in the help centre pages of other countries.

Netflix accidentally launched a set of guidelines for its measures to curb password sharing for global users, reported The Guardian. The measures, which are already being tried in a handful of Central American and South American countries like Chile, Peru, and Costa Rica, were posed accidentally in the help centre pages of other countries. They have now been taken down. “For a brief time yesterday, a help center article containing information that is only applicable to Chile, Costa Rica, and Peru went live in other countries. We have since updated it," said the streamer. Netflix's method to stop password sharing necessitates the user to connect their device and open the Netflix app and watch something every 31 days. The company will use information like IP addresses, device IDs, and account activity to ensure the device is present at the primary location of the user. If you are travelling, you can request a temporary code to log into Netflix. We do not know for certain whether Netflix will implement this particular method. And yes, others may use the Netflix account, but they will be required to pay a fee. Also Read: Do you share your Netflix account with friends and family? Be prepared to pay extra soon Critics are saying many used Netflix because compared to piracy, it was more convenient to do so. Now, with the company making it difficult to use its own service again, it might achieve exactly the opposite of what it wishes. This is to say, it may lose even more subscribers. Ever since Netflix lost 200,000 subscribers last year, which was the first such setback to the company in more than a decade, the streamer has decided to implement a number of ways to recover from the loss. Apart from the crackdown on password sharing that is prevalent particularly in the Global South, the company has also introduced cheaper, ad-supported plans. These methods are expected to go live worldwide in the first quarter of 2023. Also Read: EXPLAINED | Reed Hastings steps down from Netflix: Inside story of the streaming giant's rise and struggle Netflix's troubles really began when legacy film studios like Disney and Warner Bros decided to jump on the streaming bandwagon with services like Disney+ and Warner Bros and began to eat into Netflix's share. Unlike Netflix, these services come bundled with several decades of legacy content, including millions of hours of well-loved, and rewatch-friendly TV shows like Lizzie McGuire (in the case of Disney +) and 'Friends' (in the case of HBO Max). With a few exceptions of shows and movies licensed from other studios, Netflix has only new content to fall back on. And in an increasingly crowded space, it has increasingly struggled to market and promote its shows and movies. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Netflix accidentally reveals password sharing guidelines, quickly removes