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- Netflix profits set to hit record after crackdown on password sharing
Netflix profits are set to hit a record after a crackdown on password sharing and the launch of a string of hit TV shows.
The number of new customers surged earlier this year when the company made it harder to share accounts between friends and family, prompting millions of users to sign up on their own.
Many have also signed up to watch Netflix shows including One Day, the third season of Bridgerton starring Derry Girls actress Nicola Coughlan, and controversial global sensation Baby Reindeer.
Bumper: Netflix profits set to hit record after crackdown on password sharing and launch of hit TV show series
The streaming giant is expected to post profits of £2.6bn for the first six months of the year and revenues of more than £11bn, according to Wall Street and City forecasts.
Netflix thrived during the pandemic, when much of the world was confined to their homes, but analysts questioned whether it could maintain its momentum.
Its share price has surpassed the peak of lockdown and the company is worth £217bn. Revenues have remained strong despite a slowdown in registration since measures were introduced to stop password sharing.
Netflix will stop reporting quarterly subscription figures next year.
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