Things are looking up for Netflix this quarter. The streamer added 2.41 million subscribers, bringing the total to 223.09 million. Netflix expected a net gain of 1 million subs in the third quarter.
The streaming giant also slightly beat analysts’ expectations, earning $7.93 in revenue. Analysts predicted $7.85 billion.
Netflix experienced toptechtrends.com/2022/04/19/netflix-shares-down-more-than-20-after-losing-200000-subscribers-in-first-quarter/#:~:text=Revenue%20in%20the%20quarter%20reached,%243.53%20vs%20%242.89%20expected%2C%20however.”>two very grim quarters in recent months, losing a total oftoptechtrends.com/2022/07/19/netflix-loses-970000-subscribers-its-largest-quarterly-loss-ever/”> 1.2 million global subscribers. A significant number of layoffs have also occurred, including the more recent downsizing of its toptechtrends.com/2022/09/14/netflix-downsizes-its-animation-department-impacting-30-employees/”>animation department.
However, with the addition of its new toptechtrends.com/2022/10/13/netflixs-ad-supported-tier-set-to-launch-on-november-3/”>ad-supported tier coming to the platform in November, the company has potentially opened itself up to new customers looking for a cheaper way to stream.
The streaming giant revealed last week that the Basic with Ads plan would cost $6.99 per month and include four to five minutes of advertisements an hour for TV shows and movies. The launch will occur one month before rival Disney+’s toptechtrends.com/2022/03/04/disney-is-getting-an-ad-supported-subscription-tier-later-this-year/”>ad-supported tier, which will cost toptechtrends.com/2022/08/10/disney-is-increasing-the-price-of-its-ad-free-disney-subscription-to-10-99/”>$7.99 per month.
Netflix has partnered with toptechtrends.com/2022/07/13/netflix-partners-with-microsoft-for-its-ad-supported-plan/”>Microsoft, Nielsen, DoubleVerify and Integral Ad Science to help with its ad plan. The company also signed up with BARB to measure toptechtrends.com/2022/10/12/netflix-joins-uk-tv-ratings-agency-barb-streaming-viewership-numbers/”>Netflix’s streaming numbers in the U.K.
More to come…
toptechtrends.com/2022/10/18/netflix-adds-2-41-million-subscribers-soaring-past-expectations/”>Netflix adds 2.41 million subscribers, soaring past expectations by toptechtrends.com/author/lauren-forristal/”>Lauren Forristal originally published on toptechtrends.com/”>TechCrunch
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