Streaming giant, Netflix, added 9.3 million new subscribers in the first quarter.

Its total number of subscribers is now almost 270 million and profits for the quarter rose to more than £1.85bn ($2.3bn), as reported by the BBC.

The rise in subscribers and profits is almost certainly due to the crackdown on password sharing - meaning people who had been using others' passwords had to either subscribe themselves or miss out on Netflix altogether.

Netflix said it is going to stop reporting subscriber numbers from next year and will instead just focus on profits and revenue. This may be an indication that it expects subscriber numbers to stop going up, after the boost from the end of password sharing.

Its shares fell by 5% after the announcement that it was going to stop sharing subscriber numbers.

Netflix boasts more original content than the other streaming services and is now moving into areas such as sports and video games, helping it to stay competitive.