Netflix reported strong second-quarter earnings, adding 5.9 million subscribers and seeing its largest regional quarterly gain since 2021. In contrast, other media companies like Disney and Warner Bros. Discovery have been cutting content and laying off employees to save costs. Paramount Global and Comcast’s NBCUniversal also predicted significant losses for their streaming businesses in 2023. However, Netflix raised its free cash flow estimate to $5 billion for the year and forecasted another 6 million subscriber gains next quarter. The company's focus on cracking down on password sharing and introducing a cheaper ad-supported plan has been successful.

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