Netflix aims to attract 4.5 million subscribers by year-end and double its expected number of new customers | Business News

Netflix added 2.4 million subscribers between July and September this year, more than double expectations.

The world’s largest streaming service also beat forecasts, topping $7.9 billion in revenue, its third-quarter results showed.

It had been hoping to regain the 100,000 subscribers it lost in the first half of the year, but has more than doubled the number.

Netflix now has 223.1 million subscribers worldwide.

The company actually declared itself the winner of the streaming wars. It said in a letter to shareholders that it had beaten rivals for audiences in the UK and the US, and profited when rivals reported losses.

The results showed that the platform accounted for 8.2% of video viewing in the UK, ahead of Amazon Prime and Disney+, and 7.6% of TV time in the US, and ahead of Amazon, Disney+ and Hulu.

“Our competitors are investing heavily to drive subscribers and engagement, but building a large, successful streaming business is hard — we estimate they are all losing money, with a combined operating loss of over $10 billion in 2022, compared to Netflix’s Annual operating loss is $500 million to $6 billion in profit,” the letter reads.

Netflix A slew of updates were recently announced in hopes of increasing subscriber numbers amid rising cost of living pressures.

A new, cheaper, ad-funded monthly magazine Subscription service costs £4.99 Available from November.

To prevent password sharing, starting later this week, Netflix profiles — with viewing history and recommendations — transferable From an account owned by someone else. Profiles can be added to new subscriptions, while keeping new features allows you to keep your previous settings.

For the first time next month, Netflix viewers External independent measurements will be carried out with the BBC’s Audience Research Committee, Barb, which compiles UK TV ratings.

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