A paid subscriber base inching closer to 300 million globally, a crackdown on password sharing, the launch of an ad-supported tier and live events like The Roast of Tom Brady all drove results.
Critical to Netflix's success has been its crackdown on password sharing, which redefined what it means to be a streamer in 2023, in addition to the launch of an ad-supported tier and live events.
Netflix impressed analysts with its ability to add new subscribers in a saturated market, while growing revenues and expanding margins. Margins increased to 27% in the latest quarter.
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