Recently, as shared by Netflix’s management team, this streaming giant has added a whopping 2.4 million new subscribers in the recent months. This growth was seen in the 3rd quarter of this year, making the total subscribers to about 223 million.
According to the information provided by the corporation, the major contribution to this growth came from the Asia Pacific area, contributing more than half of the new subscribers of this quarter.
The corporation said its total subscriber count had decreased by 200,000 during the preceding three months. So the new additions came as a much welcoming surprise to Netflix.
Additionally, the streaming service reported total revenue of $7.93 billion in its 3rd quarter, as shared in the report which was made available to the general public on Tuesday, October 18.
It represents an increase of 5.9% as compared to the previous year. After a period in which the company brought in $7.97 billion in sales, the subsequent quarter brought in a sum that was somewhat less than the total revenue brought in during the previous quarter.
Netflix’s profits have been on a steady rise this past year. The streaming giant made $1.4 billion in profits during the third quarter of 2022, compared to just under that amount, $1.44 billion in the last quarter. This is promising for investors who may be waiting until after Christmas before seeing their investments pay off again!
The corporation anticipates getting on board an additional 4.5 million customers during the year’s fourth and final quarter.
Netflix also announced a week ago that it would begin rolling out an ad-supported plan on November 3 in the United States of America and 11 other countries. The name of this plan is Basic with Ads. It will cost customers in the United States $6.99 per month to participate in the program, which requires them to view an average of five minutes of advertisements hourly.
According to a statement made in a letter to shareholders by Netflix, “Their goal is not to switch members of their current plans but rather to provide prospective new members more choice.”
“Members who don’t want to alter will stay on their current plan, so they can keep using the service without having to deal with ads for the same price.”
In addition, Netflix also announced that it will be implementing “account sharing” in 2023. This means you can move your profile over to someone else’s account, set up sub- accounts (called extra members) for family or friends who want access as well and pay monthly fee instead of annual one!
Netflix has said that it thinks the “profile transfer option” will be trendy in places where the Basic with Ads plan is available.