Netflix gains more than 13 million customers
Published: Tuesday, Jan 23rd 2024, 22:51
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Netflix far exceeded expectations with an increase of a good 13 million customers in the past quarter. The streaming market leader now has around 260.3 million paying customer households. The unabated rapid growth could further increase the pressure on smaller streaming rivals.
The company announced its quarterly results on Tuesday evening Swiss time. In recent months, Netflix had cracked down on free riders who accessed the service using the passwords of friends or family members with whom they do not live in the same household.
The figures show that Netflix's calculation worked out and many of the affected users remain loyal to the service, even if it costs money. While the company took action against password sharing, the popularity of the cheapest subscription version with advertising grew.
Turnover rose by 12.5% year-on-year to a good 8.83 billion dollars (equivalent to just under 7.7 billion Swiss francs). This was also above analysts' expectations. The share price rose by around seven percent in after-hours trading. Profit amounted to 938 million dollars after 55 million dollars in the same quarter of the previous year.
©Keystone/SDA
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