The streaming giant on Wednesday said it added nearly six million paid subscribers during the three months ending in June, bringing its total to more than 238 million globally. The company said it has now launched paid sharing — its effort to get users to stop sharing accounts with others for free — in more than 100 countries, after beginning its broad rollout earlier this year. “Most of our revenue growth this year is from growth in volume from new paid memberships and that’s largely driven by our paid sharing rollout,” he said. Netflix posted nearly $8.19 billion in revenue for the quarter, compared to the $8.3 billion Wall Street had projected. Netflix said it expects to post revenue of $8.5 billion in the current quarter, a 7% year-over-year increase but below the nearly $8.7 billion analysts were expecting.

Source: CNN July 20, 2023 00:18 UTC