Netflix says password crackdown working as it adds 8.8m new users

Streaming company announces plans to increase prices as profits rise, even as Hollywood strikes threaten to affect programming

Netflix announced its global crackdown on password sharing was working and unveiled plans to increase prices as it announced its latest quarterly results on Wednesday.

The streaming media company added 8.8 million new subscribers over the last three months, far better than expected and up from 2.4 million in the same quarter last year. The increase came even as a strike by Hollywood actors and writers threatened to affect the rollout of new shows.