Netflix adds 8 million new users

Netflix still shows its attractiveness against many formidable competitors - Photo: REUTERS

This figure far exceeded the 5 million users that experts had predicted. Hit shows that are exclusive to the platform such as Bridgerton , Baby Reindeer and The Roast of Tom Brandy have helped Netflix attract new subscribers.

The platform is showing strong financial growth as its profit in the second quarter of 2024 increased 44% compared to last year, reaching $2.15 billion. Revenue increased 17% compared to 2023, reaching $9.56 billion, far exceeding analysts' previous predictions.

However, Netflix remains cautious about its third-quarter revenue potential. In a July 18 share, Netflix said its new password-sharing policy will cause the number of subscribers in the third quarter to be lower than the same period last year, with a slight increase expected of about 14%.

Netflix will also stop reporting user numbers from 2025, after facing a decline in subscriptions in the US and Canada.

Investors said they would focus on advertising businesses on the platform, seeing it as a potential alternative revenue source.

But Netflix stresses this won't happen until at least 2026.

“Our advertising business is growing well and is becoming an important contributor to the company's financial growth.

“However, growing a business from scratch takes time, so we do not expect advertising to be the primary source of revenue growth in 2024 or 2025,” Netflix said in a letter to investors.

In the race with other online streaming platforms such as Disney+, Amazon Prime Video , Hulu, Apple TV+... Netflix is ​​still in the leading position when the total number of users of this platform worldwide reached more than 277 million in June.

Source: https://tuoitre.vn/netflix-tang-them-8-trieu-nguoi-dung-moi-20240719155640038.htm