Netflix added more than five million new subscribers last quarter, once again exceeding expectations. The streaming service predicts even greater growth at the end of this year, when a long-awaited sequel to a hit series will be released.
With five million new customers in the third quarter, Netflix performed above expectations. Wall Street analysts had expected about 4.5 million new subscribers. The cheapest subscription with commercials was the most popular and, according to Netflix, subscribers spend an average of two hours per day on the platform.
The streaming service’s revenue increased by 15 percent. Netflix recently increased its prices in several countries. In May, subscriptions in the Netherlands became between 1 and 3 euros per month more expensive. The basic subscription costs 8.99 euros per month and for the most expensive premium subscription you pay 18.99 euros monthly in our country.
Account sharing approach
Netflix has been doing well over the past two years. This was partly because the streaming service introduced a strict approach to account sharing, which led to more people taking out their own subscriptions. Also an important factor was the launch of a cheaper subscription with advertisements, which is not yet available in the Netherlands.
There is no end to the upward trend yet, the streaming service says an explanation. Netflix expects to gain even more new subscribers in the fourth quarter and predicts revenue growth of 11 to 13 percent in 2025. However, analysts question how long the streaming company can continue to benefit from the account-sharing approach.
More live programs
Netflix wants to earn more from advertisements next year by developing its own advertising technology and improving the offer for advertisers. According to the company, this is ‘a priority in the coming years’.
The streamer will invest a lot in live programs in the near future, such as sports competitions and talk shows. According to Netflix, this live offer is also very interesting for advertisers.
Squid Game Season 2
At the end of this year, Netflix expects a lot from the new season of Squid Game, the most popular Netflix series ever. The second season of Squid Game will be released on December 26. The teaser trailer was released last month.
In season 2, actor Lee Jung-jae returns: his character Gi-hun ends up in the deadly game again. The third and final season of Squid Game will follow at the end of 2025.
New design
Netflix also plans to soon roll out its new design, which it has been testing since June. “We’re excited to bring it to our subscribers around the world,” said Netflix CEO Greg Peters.
Also read how Netflix wants to become even bigger.
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Source: www.bright.nl
