Thursday, 22 February 2024
WorldNetflix registers 13 million new subscribers

Netflix registers 13 million new subscribers

SAN FRANCISCO (AP) — Netflix posted its third consecutive quarter of subscriber growth in the final three months of 2023, capping a year of recovery that included a crackdown on viewers who were surreptitiously profiting from the streaming service and some price increases. .

The fourth-quarter balance sheet announced Tuesday was further evidence that Netflix was able to create a formula that produced subscriber growth despite rising prices for its movie and TV show service.

Netflix said it will try to justify rising subscription prices — and perhaps attract more viewers to a low-cost plan that includes advertising — with a $5 billion deal announced Tuesday that will include the popular wrestling show WWE “Raw” on its service.

That weekly show, coming to Netflix next year, will complement an array of TV shows that includes the Emmy-winning dark comedy “Beef” and the Oscar-nominated film “Maestro.”

Those kinds of attractions helped the Los Gatos, California-based company add 13.1 million subscribers in the October-December period, well above analysts’ projections, according to FactSet Research. The holiday season gains — Netflix’s biggest ever in the fourth quarter — added to the 8.8 million new subscribers it saw in July-September, which in turn surpassed numbers from the same quarter last year.

With this wave of customers, Netflix had more than 260 million subscribers in the world at the end of 2023, an increase of almost 30 million in the year. Last year’s performance contrasted with that of 2022, with just 8.9 million new subscribers, raising questions about whether the pioneering streaming company was losing strength under the onslaught of competition.

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