Netflix Adds 5 Million Subscriptions in Quarter

Netflix Adds 5 Million Subscriptions in Quarter - The New York Times

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Netflix Adds 5 Million Subscriptions in Quarter

The additions helped lift revenue to $9.8 billion during the period, a 15 percent increase from the same period last year.

Netflix said on Thursday that it added another five million subscribers in the most recent quarter, helping to lift revenue to $9.8 billion during the period, a 15 percent increase from the same period last year.

The company now has a total of 282.7 million subscribers, far outpacing its competitors in streaming. Net income in the quarter rose to $2.3 billion.

Buoyed by new shows including “The Perfect Couple,” and “Nobody Wants This,” as well as the existing shows “Emily in Paris” and “Cobra Kai,” and films like “Beverly Hills Cop: Axel F,” and “Rebel Ridge,” the company increased viewer engagement since last year at this time, averaging around two hours a day per paid membership.

Netflix executives say the company’s future growth will come largely from increasing subscriber engagement time by continuing to add more shows and films that viewers want to watch. The company plans to stop releasing quarterly information about total subscriber counts beginning next year but will unveil major subscriber milestones when it hits them.

Many analysts expected the company to raise the price of its standard subscription, which is $15.49 and hasn’t increased since Nov. 2022. As of now, the company appears to be standing firm on its pricing structure.

The number of people subscribing to Netflix’s ad tier grew 35 percent since last quarter, the company said. The company has said its priority for 2025 is to improve its offering for advertisers, including building its own in-house back-end system.

Fourth-quarter programming highlights for the service are expected to be: the second season of its most popular show ever, “Squid Game”; a new season of “Love Is Blind”; a British spy drama starring Keira Knightley called “Black Doves”; and two comedy series — “No Good Deed,” starring Ray Romano and Lisa Kudrow, and “Man on the Inside” with Ted Danson. The company is also bullish on the international adaptation of Gabriel García Márquez’s novel “100 Years of Solitude.”

The film slate appears to be more scant, with the company highlighting only three titles: a thriller called “Carry On,” starring Jason Bateman and Taron Egerton; a Tyler Perry-directed war drama called “The Six Triple Eight,” starring Kerry Washington; and the animated film “Spellbound” from Skydance Animation, produced by John Lasseter.

It is likely, though, that the biggest engagement for the service for the fourth quarter will be two live events: a pair of N.F.L. football games on Christmas Day, and the much-highlighted boxing match between Mike Tyson and Jake Paul, which is set for Nov. 15.

Nicole Sperling covers Hollywood and the streaming industry. She has been a reporter for more than two decades. More about Nicole Sperling

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