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Netflix Adds 6 Million New Users After Password Crackdown
In its latest quarterly report, the streaming service reported dramatic growth after preventing users sharing account details.
Streaming giant Netflix has reported substantial growth after a crackdown on users sharing their account details with people outside their households. The company added nearly 6 million new subscribers during the second quarter of 2023, representing a growth of 8%.
In a letter to shareholders, Netflix explained that its drive to stop password sharing hadn’t resulted in mass cancellations and that tightened restrictions were working. “The cancel reaction was low, and while we’re still in the early stages of monetization, we’re seeing healthy conversion of borrower households into full paying Netflix memberships as well as the uptake of our extra member feature,” the letter read.
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In addition to restricting account sharing, Netflix has begun offering “paid sharing”, allowing subscribers to add an “extra member” to their account for $8 a month — an option now available in over 100 countries.
Netflix has also confirmed that its $10 basic plan will be canceled in the United States and United Kingdom. At the same time, restricted password sharing will continue to roll out in countries such as India, Indonesia, Kenya, and Croatia.
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Egypt’s Mobile Wallets Are Booming, But Cash Still Has Power
Egypt’s telecom regulator says $57.6 billion moved through more than 57 million wallets in six months. And one operator handled 77% of the value.
Egypt’s mobile wallets handled EGP 2.96 trillion ($57.6 billion) in transactions in the first half of 2026, according to the National Telecom Regulatory Authority – a 56% rise on the EGP 1.90 trillion ($36.9 billion) recorded a year earlier. Transactions grew faster still, up 62% to 2.22 billion, while registered wallets climbed 23% to 57.01 million.
On one reading, that is exactly what Egypt’s regulators have been pushing for: a payments system that runs through telecom-linked wallets rather than banknotes. But the same data shows how far cash still reaches into it. Cash withdrawals made up just 12% of the transactions taking money out of wallets, yet 75% of the value withdrawn or spent.
Money arrives mostly from bank accounts: transfers through InstaPay accounted for 78% of deposit transactions and 58% of the value deposited, while incoming remittances from abroad made up 3% of deposit transactions but 10% of their value. Once inside, it largely moves between wallets – wallet-to-wallet transfers accounted for 54% of all transactions and 67% of total value, with mobile and internet top-ups a distant second at 25% of volume. In effect, the wallet is serving as a transfer layer: the place money passes through between the bank account and the banknote.
That layer also runs predominantly through one operator. Vodafone Cash held 53% of registered wallets and 57% of active ones, but handled 69% of transactions and 77% of their value. Its nearest rival, e& money, held 23% of registered wallets but 14% of transaction value; Orange Cash 20% and 8%; WE Pay 4% of wallets. How many of the 57.01 million are active is not stated.
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Adoption is rather uneven in other respects. Men held 38 million wallets, or 67% of the total, against 19 million held by women. Users aged 26 to 45 accounted for half of all wallets, and Cairo alone had 10.6 million, or 19% of the national total, with Giza next at 6.5 million.
The NTRA says it is continuing to work with telecom operators on the regulatory framework for wallet services, part of a wider effort to expand electronic payments and financial inclusion. Its own figures show that effort succeeding on the way in. On the way out, three-quarters of the value still leaves as cash.
Egypt’s Mobile Wallets Are Booming, But Cash Still Has Power
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