The world's largest streaming service continues to perform well, adding 8 million users in the last quarter, according to its latest financial report, largely thanks to shows like the third season of Bridgerton and The Fawn Kid.
In the second quarter, Netflix managed to increase its profits again, and they were nearly double what investors expected. Revenue reached $9.56 billion, up 17% from the same period in 2023, while profits reached $2.15 billion, up from $1.5 billion a year ago.
The company said it expects 14% year-on-year growth in the July-September period. The report also revealed an 8 million user increase. Netflix currently has 277 million subscribers worldwide.While it is estimated that Total viewership may exceed 600 million.if we take into account the fact that more than one person in the family watches the platform.
Meanwhile, the company is also trying to grow its advertising revenue, as its ad-supported subscription package becomes available in more and more markets. However, Netflix notes that the advertising business won’t start to make a significant impact on revenue until 2026, with subscribers currently growing much faster than advertisers.
