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Netflix's 4Q subscribers surge, long-time CEO passes baton
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This is the NETFLIX screen on a television in Pittsburgh, on Monday, Oct. 17, 2022. Netflix reports earnings on Thursday, Jan. 19, 2023. - photo by AP Photo/Gene J. Puskar
Netflix’s subscriber growth is surging again, providing an early sign that its shift to include ads in a cheaper version of its video streaming service is helping to combat tougher competition and attract cost-conscious customers grappling with inflation. The company on Thursday disclosed a gain of 7.7 million subscribers during the October-December period, a stretch that included the debut of an ad-supported option for $7 per month – less than half the price of its most popular commercial-free plan. The performance followed subscriber gains that topped analysts’ modest expectations during a July-September period that followed Netflix’s second consecutive quarter of customer losses.