The move underpins Netflix’s efforts to ensure content quality, at a time when investors and analysts are more focused on the profitability of streaming companies.
Netflix’s attempt to win the wrestling of the platforms again
the streaming platform Netflix managed to reverse the decline in users and in its latest report reported an increase higher than what Wall Street expected. The company plans to capture 4.5 million new customers with its ad-supported streaming option that could be rolled out by the end of the year.
Between the months of July and September, the company co-founded by Reed Hastings and Marc Randolph attracted 2.4 million new subscribers worldwide, according to a report released by Reuters. This is more than double the 1.07 million expected by the median of analysts surveyed by Refinitiv.
Its growth was boosted by the premiere of the latest episodes of “Stranger Things” and the serial killer series “Dahmer – Monster: The Jeffrey Dahmer Story”, one of the most viewed of all time on the platform.
In its quarterly report to shareholders, Netflix noted that “our competitors are investing heavily to get subscribers and engagement, but building a large and successful streaming business is difficult.” The company now has a total of 223.1 million subscribers worldwide.
Netflix estimated that its competitors would end 2022 with combined operating losses of “well over $10 billion,” compared with Netflix’s annual operating profit of between $5 billion and $6 billion.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
