Netflix gained significantly more new subscribers in the fourth quarter of last year than the company expected. Between October and the end of December, the streaming platform gained 7.7 million customers. In total, the company had 231 million subscribers at the end of last year.
In the first half of last year, Netflix saw another decreases for subscribers. This has been partly due to increased competition from other streaming services like HBO Max and Disney+, but also because more and more people are sharing their accounts with others. The platform will address that this year.
in the third quarter The number of subscribers increased again. So that continued into the fourth quarter. Netflix has had success with the series, among others Wednesday, a series about Wednesday Addams, better known from the Addams Family. This series was the third most popular series on the platform of all time according to the company. Documentary series Harry and Meganwhere British Prince Harry and his wife, Megan Markle, were telling their story, and they also scored well.
Cheaper subscription with ads
In the last quarter, Netflix also released a Cheaper subscription Where ads are shown to users. This subscription isn’t yet available in the Netherlands, but it’s already available in a dozen other countries, including the US and Germany.
The turnover amounted to 7.85 billion dollars, equivalent to approximately 7.2 billion euros. This is lower than expected. One of the reasons may be that users who previously had an expensive plan have now switched to the cheaper plan with ads. The company describes 2022 as “a challenging year, with a rocky start, but a brighter finish.”
CEO and co-founder Hastings takes a step back
The company also announced that CEO Reed Hastings will be stepping down as CEO. He has been at the helm of the company for more than twenty years, which he co-founded in 1997 with Mark Randolph.
Greg Peters and Ted Sarandos will now lead Netflix, but Hastings will remain involved with the company. He will be the CEO.
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