Netflix finally regains its 2.4 million subscribers after poor growth this year

 

Tollywood News: The biggest live-streaming platform Netflix has gained 2.41 million subscribers the in the month of July- September, bringing the total to 223.09 million globally. It is said that after a challenging first half when it lost subscribers, it is once again on a path to increase the growth of the company. 

However, Netflix reported $7.93 billion in revenue in Q3 2022 and operating income totaled $1.5 billion. The company further said, their 6% revenue growth in Q3 was driven by a 5% increase in average paid memberships. In the region of APAC, Netflix added 1.4 million paid memberships. 

For the 4th quarter, where Netflix is expecting revenue of $7.8 billion with the sequential decline entirely due to the continued strengthening of the US dollar against other currencies. Hence, it is been a massive challenge to build a lifetime of entertainment in just 10 years in many different languages across various genres including, series, movies, animations, stand-up comedy, and non-fiction.

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Furthermore, Netflix said, they have given everything that they have learned, and are so confident that they can deliver even more member value per content investment dollar over time. Also, the company is planning to launch an ad-supported subscription plan in select countries next month. 

Netflix is also going to offer the ability for borrowers to transfer their Netflix profile into their own account and for the sharers to manage their devices more easily and to create sub-accounts if they to pay for family or friends.

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