CosmicTaco

Netflix Surpasses Subscriber Targets, Boosted by Ad-Tier Signups

CosmicTaco · 2024-10-18T08:37:39.884523+05:30

- Netflix's ad-supported service accounted for over 50% of signups in Q3, leading to a surge in subscribers beyond Wall Street estimates. - The streaming giant plans to increase prices in Spain and Italy, while rejecting the idea of discounted bundles with rival platforms. - Netflix shares rose nearly 5% after hours, reflecting positive investor sentiment. - Despite a slowdown in subscriber growth, Netflix is shifting focus to revenue growth and profit margins. - The company anticipates higher customer growth around the holiday season with the return of popular Korean drama 'Squid Game'. Source: [Reuters](https://www.reuters.com/business/media-telecom/netflix-beats-earnings-targets-with-5-million-new-customers-2024-10-17/)

Netflix's ad-supported service accounted for over 50% of signups in Q3, leading to a surge in subscribers beyond Wall Street estimates.
The streaming giant plans to increase prices in Spain and Italy, while rejecting the idea of discounted bundles with rival platforms.
Netflix shares rose nearly 5% after hours, reflecting positive investor sentiment.
Despite a slowdown in subscriber growth, Netflix is shifting focus to revenue growth and profit margins.
The company anticipates higher customer growth around the holiday season with the return of popular Korean drama 'Squid Game'.

Source: Reuters