Netflix Subscriber Growth Slows Amid Revenue Gains -- WSJ

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Netflix Subscriber Growth Slows Amid Revenue Gains -- WSJ

Dow Jones10-18

By Jessica Toonkel

Netflix's revenue and operating margins continued to improve in the third quarter as subscriber growth slowed, a sign of the company's success in pivoting toward prioritizing profitability over growth.

The streaming giant continued to add new customers in the third quarter, although at a slower pace than a year earlier, when its password-sharing crackdown initially took hold. Netflix added 5.07 million subscribers in the third quarter, compared with 8.76 million net new subscribers during the same period a year earlier.

The company ended the quarter with 282.7 subscribers globally, compared to 247.15 million subscribers a year ago.

Price increases and changes to its plan lineup have helped Netflix add customers and improve profits.

Updates to follow as news develops.

(END) Dow Jones Newswires

October 17, 2024 16:03 ET (20:03 GMT)

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