Skip to main content

Netflix Says Subscriber Numbers Topped 232 Million In 1st Quarter Of 2023

By
Netflix Says Subscriber Numbers Topped 232 Million In 1st Quarter Of 2023

Netflix on Tuesday said that its number of subscribers hit 232.5 million.

San Francisco:

Netflix on Tuesday said that its number of subscribers hit a record high 232.5 million in the first quarter of the year and that its nascent ad-supported tier is faring well.

The streaming television giant reported a quarterly profit of $1.3 billion, in line with expectations, but said it had delayed a broad crackdown on sharing of account passwords "to improve the experience for members."

Netflix said it expects to begin rolling out its options for paid password sharing this quarter instead.

That means some membership and revenue benefits resulting from the move were postponed, Netflix said in a letter to shareholders.

"We believe this will result in a better outcome for both our members and our business," Netflix said.

And while a new ad-subsidized subscription tier at Netflix is in its early days, engagement is above initial expectations and Netflix has seen "very little switching from our standard and premium plans."

Market tracker Insider Intelligence forecast that Netflix will bring in $770 million in ad revenue from the new tier this year, and that revenue figure will top $1 billion next year.

As growth at Netflix cooled last year, the Silicon Valley based streaming company focused on creating a lower priced subscription tier with advertising.

Netflix also set out to nudge people watching for free with shared passwords to begin paying for the service without alienating subscribers.

For the first time ever, US adults will spend more time this year watching digital video on platforms such as Netflix, TikTok and YouTube than viewing traditional television, Insider Intelligence has forecast.

The market tracker expects "linear TV" to account for less than half of daily viewing for the first time ever, dropping to under three hours while average daily digital video watching climbs to 52.3 percent with 3 hours and 11 minutes.

"This milestone is driven by people spending more and more time watching video on their biggest and smallest screens, whether it's an immersive drama on a connected TV or a viral clip on a smartphone," Insider Intelligence principal analyst Paul Verna said in a release.

Netflix and YouTube are "neck and neck" leaders when it comes to digital video audience attention, according to Insider Intelligence.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Adblock test (Why?)



from NDTV News- Special https://ift.tt/4FQoCGI https://ift.tt/HEF9mA1
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

"Mandir" Tag To Health Centers Sparks Backlash In Ladakh

By
The new signages of Ayushman Health Centres raised eyebrows in Ladakh. Srinagar: The renaming of Ayushman Bharat Health and Wellness centers as Ayushman Arogya Mandir has sparked backlash in Ladakh. After red flag by Ladakh Buddhist Association, the BJP ruled Ladakh Autonomous Council has asked the Lieutenant Governor to "respect public sentiment". "I am taking the liberty to express my concerns, as well as of the public, regarding the recent renaming of the Ayushman Bharat Health and Wellness centers to Ayushman Arogya Mandir," Tashi Gyalson, Chairman cum Chief Executive Councilor of Ladakh Autonomous Hill Development Council, wrote to Lieutenant Governor, Brig (Retired) B.D. Mishra. "It has come to my attention that this change has generated significant resentment among the public, necessitating prompt attention and resolution," wrote Mr Gyalson. Referring to Health ministry directive, Mr Gyalson, who is also a senior BJP leader, said it was stip...
Post a Comment
Read more

Mob Attacks Hindu Procession In Maharashtra's Thane, Case Filed: Cops

By
The incident took place on Sunday night on Lodha Road, police said. (Representational) Thane: A mob of 50-60 persons was booked by Mira Bhayander Vasai Virar police in Thane district for allegedly assaulting a man who was part of a procession on the eve of the idol consecration of the Ram Temple in Ayodhya, an official said. The incident took place on Sunday night on Lodha Road and as per the complainant the mob armed with iron rods, sticks, bats shouted religious slogans and assaulted him when he was part of a procession comprising three vehicles and 10 two-wheelers, the official said. They vandalised the car with stones and sticks, the man said in his complaint to Naya Nagar police station. "A case of attempt to murder and other offences has been registered against a mob of 50-60 persons. Further probe is underway," the official added. (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.) Adblock test (Wh...
Post a Comment
Read more

Gunmen Storm Ecuador Studio, Declare "War" On Live TV, Military Ops On

By
Authorities reported multiple explosions and said seven police officers had been kidnapped. Quito: Ecuadoran President Daniel Noboa ordered military operations on Tuesday against the country's powerful criminal groups after hooded gunmen stormed a television studio and gangsters threatened to execute security forces and civilians. Noboa declared the country in a state of "internal armed conflict" just hours after gangsters declared "war" in an escalating security crisis sparked by the prison escape of one of Ecuador's most powerful criminal bosses. Que pena todo lo que esta pasando con los hermanos del canal tc televisión, Dios los cuide pic.twitter.com/behRNVacSz — Emergencias Ec (@EmergenciasEc) January 9, 2024 Long a peaceful haven sandwiched between top cocaine exporters Colombia and Peru, Ecuador has seen violence explode in recent years as enemy gangs with links to Mexican and Colombian cartels vie for control. "I have ordered the armed...
Post a Comment
Read more