Netflix Bounces Back with 8.8 Million New Subscribers and Price Hikes After Cracking Down on Password Sharing

Netflix added 8.8 million new subscribers from July to September, its most in almost 2 years, after cracking down on password sharing.

The company's share price surged on the strong growth. It had lost subscribers in the first half of 2022.

Netflix is raising prices for some plans in the US, UK and France, reflecting growing confidence after the subscriber growth.

Licensed shows like Suits saw a surge in viewing, showing value of non-original content as Hollywood strikes delay new releases.

Analysts expect more price hikes and profits growth for Netflix as it balances costs and looks to new initiatives like brick-and-mortar stores.