Ted Sarandos, Co-CEO at Netflix, attends the Los Angeles premiere of Netflix's"BEEF" at TUDUM Theater in Hollywood, Calif., March 30, 2023.The company added about 5 million subscribers over a three-month period ending in September, which marked a roughly 40% decline from the same period one year prior.
Even so, the subscriber gains contributed to revenue totaling nearly $10 billion, in part due to the growth in popularity a subscription tier that includes advertisements, the earnings report on ThursdayIn all, Netflix boasts about 282 million subscribers worldwide, making it the most popular streaming service by a wide margin. By comparison, Warner Bros.
Notable programs from the most recent quarter included the latest season of "Emily in Paris," as well as movies like "Monster High 2" and "Rebel Ridge." The company also expanded its live broadcasts, featuring a face-off between hot dog-eating rivals Takeru Kobayashi and Choey Chestnut in September.
The company expects continued growth next year due to a slate of programming that includes new seasons of top shows like "Wednesday" and "Squid Game," as well as an additional installment in the "Knives Out" film series, Netflix said. Netflix forecasted as much as $44 billion in revenue next year, which would amount to about a 13% increase over current performance.Even after expanding its audience, Netflix still captures less than 10% of television viewership in the countries where the platform is most popular, Netflix said.