Netflix's Password-Sharing Crackdown Drives Surge in Subscriptions and Revenue

Netflix reported an 8% increase in subscriptions and a rise in revenue as its crackdown on password sharing took effect. The streaming giant added 5.9 million customers in the second quarter and plans to roll out its new policy to the rest of its customers. Netflix expects a boost in revenue in the second half of the year as it begins to see the full benefits of paid sharing and the growth of its ad-supported plan. The company also anticipates revenue growth in the fourth quarter as efforts to curb password sharing gain steam and advertising revenue grows.