Netflix has been the pioneer in changing the way we stream our favorite movies and shows. Be it bringing back classics, or helming down new originals, the streaming giant has revolutionized the space with its design and branding. The Tudum sound followed by the streaks of red and other shades is itched in our brains, and that is definitely the result of what a good brand does to people’s association of colors and sound. And with the great power of TV shows and movies, comes great responsibility to curb loss-making assets. 

In recent news by Film Updates, the over-the-top streaming platform added a huge 5.9 million new paid subscribers to its platform in its first report after the crackdown. The 2nd quarter earnings showed a total profit of $1.5 billion and with the recent surge in subscriber count, the total number stands at 238.4 billion paid subscribers worldwide. This reportedly not only surpassed the expected number but also established itself as one of the benchmarks in streaming companies. 

But this comes after the crackdown on password-sharing rules. Netflix sought to its users and brought out a fresh set of rules regarding sharing your password within the family. They would charge anybody who is away from the account holder’s location an extra $7.99 per member. Though this caught some outrage among the viewers, the strategy appeared to work. According to The Hollywood Reporter, the company said that the cancellation rate was very low after the introduction of new rules. This success was also followed by the recent changes in plan tiers. 

While revamping their subscription plans and enforcing rules that are stronger now, the media company has more plans in mind. 

Netflix expanding their overall viewership

While the shakeup of plans is an effort to generate a better profit, Netflix is looking to expand its advertisements, too. They are aiming to get a good entry with advertisements and generate a separate revenue through them. This attempt at increasing sales, while aiming for a better advertising strategy, comes at a battle with its competitors. Apart from the improvements in their technical sphere, the media company is also strengthening its core values. In an attempt to be more inclusive, they have been trying to increase their international content. The surge in South Korean titles, anime shows, and regional language content is something a long time in the making.

What do you think of Netflix’s massive increase in sales? Comment below and let us know.