Netflix gained 2.4 million new customers in its most recent quarter, exceeding predictions that it would add just one million. Investors and other platforms considered the rise to be a positive indication that consumers’ interest in video streaming is still strong.
NBC News reports that despite the streaming service reporting the first subscriber losses in its history in the first two quarters of the year, Netflix recorded a lower loss than anticipated in the most recent quarter. In comparison to its competitors, whose losses it estimated at “well over $10 billion,” the company asserted on Tuesday that it still produces annual profits. Moreover, it claimed to own 7.6% of TV time, surpassing Amazon by 2.6 times and Disney and Hulu by 1.4 times.
“After a challenging first half, we believe we’re on a path to reaccelerate growth. The key is pleasing members. It’s why we’ve always focused on winning the competition for viewing every day. When our series and movies excite our members, they tell their friends, and then more people watch, join and stay with us.”
According to the company, 1.4 million new paid subscriptions were added in the Asia and Pacific area, as compared to 100,000 in the United States and Canada.
The true-crime drama “Monster: The Jeffrey Dahmer Story” has just completed a quarter in which it amassed 701 million viewing hours, passing the historical drama “Bridgerton” to become the second-most watched series on Netflix ever, only behind “Stranger Things.” But despite a strong marketing strategy, it also saw the divisive Marilyn Monroe film “Blonde” struggle to find an audience.
The Wall Street Journal reported that the platform’s users had started to visit it less frequently based on internal metrics. According to the newspaper, co-chief executive Reed Hastings pushed his staff to increase the frequency of visits as a result. Stay tuned to Thirsty to get the latest updates.
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