According to Netflix’s third quarter earnings report, which was published today, the subscribers of this platform benefit from its services on average, two hours a day. Statistics show a significant increase in the number of household viewers compared to 2023.
Netflix’s revenue reached $9.83 billion and its operating income reached $2.91 billion. Netflix has added about five million new subscribers, bringing its total to 282.7 million subscribers worldwide. About half of new subscribers who joined Netflix in the third quarter of 2024 chose an ad-supported plan.
Netflix announced that it currently accounts for less than 10% of total TV time in its largest markets. The company believes that there is a huge opportunity to increase the share by continuously producing high-quality series and movies. Netflix has promising content slated for release in the coming months and year, including the second season of Squid Game, the final season of Arkane, and an animated Witcher movie.
Greg PetersNetflix’s co-CEO, confirmed that the platform plans to widely roll out the new design, which began testing it this summer. “We’re very pleased with the progress we’ve made on this, so we’re rolling it out,” says Peters. We look forward to bringing the new design to our subscribers around the world.”
This is one of the few times that Netflix announces the number of new subscribers each season; From 2025, the company will no longer publish quarterly statistics.
Subscriber growth has become a less important metric as online streaming services have added other revenue streams, such as advertising and paid subscriptions, to their business. However, Netflix does not expect advertising to become the “main driver” of its revenue growth next year.
