Netflix added nearly 6 million paid subscribers in the third quarter, a sign that the company’s crackdown on password sharing is working.

Netflix’s crackdown on password sharing appears to be paying off. 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. Netflix said revenue in those regions is now higher than before the service launched, and that “sign-ups are already exceeding cancellations.” The results come at a pivotal moment for Netflix as the streamer looks to boost revenue by restricting password sharing and introducing an ad-supported subscription option while also contending with a fresh challenge: strikes by both the Hollywood actors and writers unions that could impact its future slate of original shows and movies. While Netflix’s changes helped boost revenue for the quarter, it still fell just shy of what Wall Street analysts had expected. Netflix posted nearly $8.19 billion in revenue for the quarter, compared to the $8.3 billion Wall Street had projected. It also posted net income of $1.49 billion, up 3% from the same period in the prior year. “While we’ve made steady progress this year, we have more work to do to reaccelerate our growth,” the company said in a letter to investors about the results. Shares of New Yorks crackdown on password sharing appears to be paying off. 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. Netflix said revenue in those regions is now higher than before the service launched, and that “sign-ups are already exceeding cancellations.” The results come at a pivotal moment for Netflix as the streamer looks to boost revenue by restricting password sharing and introducing an ad-supported subscription option while also contending with a fresh challenge: strikes by both the Hollywood actors and writers unions that could impact its future slate of original shows and movies. While Netflix’s changes helped boost revenue for the quarter, it still fell just shy of what Wall Street analysts Netflix posted nearly $8 Netflix’s crack sharing appears be paying off. 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 it has now launched paid sharing — its effort get users to stop sharing accounts with others for free — in more than 100 countries, after beginning its broad rollout earlier this year