News Summary

• By Jill Goldsmith Co-Business Editor Netflix’ crackdown on password sharing, or as the streamer calls it a focus on “paid sharing,” will drive growth for years to come, said the streamer’s co-CEO, addressing a Wall Street concern that benefits may top out this year..
• “Our paid sharing work, and our ads work, creates a more effective engine to translate all [Netflix] value into revenue growth, and will support increased conversion of our addressable market in many years to come,” promised Greg Peters on the fourth-quarter earnings video call..
• Paid sharing and to a lesser extend a new advertising tier are helping the company re-cement its lead over streaming rivals in a landscape that got very messy post-Covid and is still challenging even for the pioneer..
• In its letter to shareholders this afternoon, the company said, “We believe we’ve successfully addressed account sharing, ensuring that when people enjoy Netflix they pay for the service too..
• That engine, he stressed, “works on top of very healthy organic growth” driven by content including TV series and movies, games, and now live events following a long-term deal with WWE announced earlier today..
• Netflix launched paid sharing in the U.S. in the second quarter of 2023 having successfully tested it in Canada, New Zealand, Spain and Portugal..