Netflix says its subscriber growth slowed dramatically during the summer, a sign that the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off.

Netflix shares hit an all-time high on Friday, buoyed by investor optimism that its robust content lineup will help the streaming giant maintain upbeat subscriber growth even as the boost from its password-sharing crackdown wanes.

Netflix says its subscriber growth slowed dramatically during the summer, a sign that the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off

Netflix reported strong third-quarter earnings, in a sign that its content mix, including "Emily in Paris," and its password sharing crackdown are still paying off.

Netflix shares rose 11% Friday on third-quarter financial results that beat expectations. Netflix with ads membership jumped 35% compared to the second quarter of 2024.

Netflix's third-quarter earnings beat estimates, with new subscribers growing again as the company continued to fight password sharing.