Netflix revealed in its earnings report a significant gain of 8 million subscribers, reaching a global total of 278 million. Notable content like 'Bridgerton' and 'Baby Reindeer' contributed to its success, boosting revenue to $9.5 billion, a 17% increase.
The company introduced a $6.99 ad-supported service in 12 countries, attracting over 45% of new sign-ups. Netflix is phasing out its basic ad-free plan to focus on ad-supported tiers for revenue growth.
With a strategic shift towards advertising and regional revenue reporting, Netflix aims to sustain its growth trajectory despite concerns over long-term subscriber expansion.
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