Streaming market leader - Netflix gains eight million new customers
Netflix continues to grow unabated. In the last quarter, the video streaming market leader gained approximately eight million household subscriptions. There were significant increases in revenue and profit as well - and Netflix now has more money to invest in new films and series.
Globally, Netflix now has around 277.7 million household subscriptions. The service has been growing since the previous year due to the elimination of password sharing. This also drives growth in user numbers.
Many former freeloaders signed up for their own subscription instead of returning Netflix. In the last quarter, for example, a new season of the series "Bridgerton" and films like "Atlas" and "Hitman" kept customers engaged.
Revenue and profit increase
Revenue rose by around 17% in the last quarter compared to the previous year, to 9.6 billion Dollars (8.77 billion Euro), as Netflix announced after the US stock exchange close. The profit increased from 1.49 to nearly 2.15 billion Dollars.
However, Netflix missed the revenue forecast for the current quarter by a little. The streaming leader also warned that the growth in subscriber numbers would be lower than in the previous year's quarter, as the crackdown on password sharing had been particularly effective at that time.
Stock price loses roughly two percent temporarily
Investors reacted sensitively: The stock price lost roughly two percent in after-hours trading. For the entire year, Netflix is now slightly more optimistic about revenue growth, with a projected increase of 14 to 15%. Previously, 13 to 15% had been expected.
Netflix is profitable, while competitors like Disney and Paramount are struggling to turn their streaming offerings into the black. The market leader is aware of its strength and has flatly rejected bundle offers with other services, to which rivals resort. We are already a popular destination for television entertainment on our own.
- The increase in Netflix's revenue and profit has attracted attention in the global media, with numerous articles being published on the internet.
- The popularity of Netflix's original series, such as "Bridgerton," and films, like "Atlas" and "Hitman," are major contributors to the platform's growing subscription numbers in the United States of America.
- Quarterly figures show that Netflix's streaming service is increasingly competitive, with its quarterly subscription gain surpassing popular television networks in the quarterly figures.
- Despite missing the revenue forecast for the current quarter, Netflix's quarterly figures indicate that it remains a strong force in the streaming market, particularly in the United States, where it continues to outpace competitors like Disney and Paramount.
