After two quarters of subscriber losses which rocked the industry, Netflix has turned a corner and revealed growth in the third quarter of 2022 and expectations of a strong fourth quarter in 2022.
The streaming giant reported 2.41 million net new paid subscribers were added in Q3, including a gain of 100,000 in North America, to stand at 223.1 million worldwide as of the end of September.
That easily beats prior forecasts of a 1 million pickup for the period. Q3 revenue came in $7.93 billion, up 5.9% year over year.
Netflix adds it projects to gain 4.5 million new streaming customers in the fourth quarter. Shares of Netflix shot up more than 14% on the news.
Netflix says it is also planning more video games based on its IP. The servie currently has 35 games on its service with 55 more in development. They point to the recent success of anime series “Cyberpunk: Edgerunners,” which led to sales of the game surging on PCs, as the kind of success they want to replicate.
Source: Forbes
