Netflix Back On Track: Subscribers Are Growing Again
Netflix is growing again. According to its own statements, the streaming giant was recently able to win more customers again after the company had been struggling with declining numbers for six months. The financial world reacted with enthusiasm.
The streaming provider Netflix was able to increase the number of its subscribers again in the third quarter and even exceeded the expectations of the stock market. The company reported that it added approximately 2.4 million new customers in the period from July to September 2022. Netflix currently has 223.1 million subscribers.
Continuous improvement Ahead
The increase in subscriber numbers exceeded US stock marketers’ expectations by twice. After the market closed, the share rose by 14 percent, also because the company forecast a further increase in the number of users by around 4.5 million for the fourth quarter of 2022. This is probably made possible by the various measures that Netflix has taken to counteract the falling numbers of the last two quarters.
Netflix benefited from the release of new shows, including the fourth season of “Stranger Things” and the show “Dahmer – Monster: The Jeffrey Dahmer Story”, which is all about the story of a US serial killer. Another factor was other new content, including a lot of so-called Asian dramas, which are drama series from South Korea and other Asian countries.
Netflix has been trying to counter falling numbers with various changes for several months. On the one hand, massive action is now being taken against so-called account sharing, in which several users share one account in order to save costs. In the course of the announcement of the business figures, Netflix also announced that it would ask customers to pay for account sharing in the future.
On top of that, Netflix is currently introducing a new variant of its subscription, in which the subscription price is slightly reduced if viewers accept around four to five minutes of advertising per hour of streamed content. The company has also begun to significantly reduce its spending, which is causing some trouble for the film industry in general as Netflix increasingly focuses on monetized projects.
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