Netflix has revealed to investors that it gained more than 2.4 million subscribers in the third quarter, more than double what the company estimated, with the number of active, paying subscribers rising to 223 million.
Monster: The Jeffrey Demer Story, Stranger Things S4, Extraordinary Attorney Wu, The Gray Man and Purple Hearts were some of the best-performing movies and series of all time, according to Netflix’s latest shareholder letter.
“Our Q3 material slate was particularly strong. In English scripted TV, we started the quarter with Stranger Things S4, which clocked 1.35 billion hours – our biggest ever season of an English 4 language series. It was followed in August by The Sandman (351 million hours of views), which was loved by fans and critics alike. Told Netflix in shareholder letter. Post-growth effects included a 15.5% jump in the company’s shares
Netflix expects revenue to increase further in the fourth quarter of the year. “For Q4’22, we expect revenue of $7.8 billion, with a sequential decline solely due to the continued strength of the US dollar versus other currencies. On a constant currency basis, this is 9% year-over-year of revenue. equals growth.”
In a recent development, Netflix also announced that the company is bringing advertising to a subscription level in some regions to reduce costs and increase market share. Netflix’s Chief Operations Officer Greg Peters claims the new with-AIDS tier costs $6.99, which is about $3 less than the no-ads tier.
“We also continue to invest heavily in marketing, focusing specifically on innovative ways to drive conversation around our titles, which in turn increases engagement for Netflix. For example, Stranger Things S4 and Our campaigns for The Gray Man garnered over 9.8 billion and 1.2 billion impressions, respectively, across paid marketing, social media platforms and events.
Natively developed shows like Stranger Things will continue to cement Netflix’s already strong IP. Furthermore, Netflix has also confirmed that Stranger Things’ S5 is in active development.
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