After struggling through the first half of 2022, Netflix has stopped losing customers. According to its latest growth report, the service added 2.4 million new subscribers between July and September. The two previous quarters saw it lose 200,000 and 970,000 subscribers, respectively.
The streaming giant is also feeling positive about the outlook, too, believing it'll pick up around 4.5 million new subscribers before the end of the year.
How? Company execs think that prospective customers may be lured by the company's new (and cheaper) ad-supported tier, which launches on November 3 for $7 per month. Additional revenue could also come via a new effort to clamp down on password sharing.
Following the publication of the results on Tuesday, Netflix CEO Reed Hastings didn't hide his delight, saying: "Thank God we're done with shrinking quarters." Whether or not Netflix can maintain the upward trend remains to be seen.
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