SAN FRANCISCO (NEWSnet/AP) — Netflix on Wednesday disclosed summertime subscriber gains that surpassed industry analysts’ projections.

It signals that the streaming service’s crackdown on password-sharing is converting freeloaders into paying customers.

Netflix also announced it is raising the price for its most expensive streaming service by $2 to $23 per month in the U.S., a 10% increase, and its lowest-cost, ad-free streaming plan to $12, another $2 bump.

The $15.50 per month price for Netflix's most popular streaming option in the U.S. will remain unchanged, as will a $7 monthly plan that includes intermittent commercials.

The company added nearly 8.8 million worldwide subscribers during the July-September period, more than tripling the number gained during the same period in 2022.

The increase brings the number of worldwide subscribers to about 247 million, well above the 243.8 million projected by analysts surveyed by FactSet Research.

Netflix’s financial performance also topped the analyst forecasts that shape investor expectations. The Los Gatos, California, company earned $1.68 billion, or $3.73 per share, a 20% increase from the same time last year while revenue climbed 8% to $8.54 billion.

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