Netflix Records Record Increase and Raises Prices in USA

Netflix now has 301.6 million users, surpassing its previous largest quarterly increase, which was around 15 million at the start of the Corona pandemic in 2020. With this record, Netflix will now stop providing user numbers. This had already been announced last year.

Squid Game and Live Events on Netflix Drew in Viewers

Netflix's revenue increased by 16 percent to $10.2 billion in the past quarter compared to the same period last year. Net profit jumped from $938 million a year ago to $1.87 billion. Investors welcomed the results: the stock rose by more than 14 percent in after-hours trading. The second season of "Squid Game" is already the third most successful Netflix series - behind season one and the American comedy-horror series "Wednesday". At the same time, there were two live events in the past quarter that many users were interested in: a boxing match between veteran Mike Tyson and influencer Jake Paul, and the first Netflix broadcast of two NFL football league games. On average, users watch Netflix for about two hours a day.

Live is Good for Netflix's Advertising Business

Co-CEO Ted Sarandos hinted that Netflix is more interested in attracting potential long-term customers with individual sports broadcasts, rather than expensively buying the rights for an entire season of the major leagues. At the same time, Netflix will show the Women's Football World Cups in 2027 and 2031. The live program plays an important role in Netflix's advertising business. The streaming service, which was once completely ad-free, is now increasingly relying on a cheaper subscription with ads. This attracts advertising spending that previously went to traditional linear TV. In the twelve markets where the ad-supported subscription is available, the majority of new customers, according to Netflix, opt for it.

(APA/Red)

This article has been automatically translated, read the original article here.