Netflix continues to attract millions of new subscribers, but the streaming giant's priority has shifted to retaining its users and increasing the time they spend watching its content, as they are now surrounded by a vast array of entertainment options. The number of Netflix subscribers has risen to over 277 million worldwide, with more than eight million new subscribers joining in the second quarter of this year, achieving results that once again exceeded expectations.
Ad-supported memberships on Netflix increased by 34% during this period compared to the same quarter last year. Additionally, the streaming company surpassed Wall Street's expectations by generating revenues of $9.56 billion, with a net profit of $2.15 billion, according to its earnings statement published on Thursday. The earnings per share came in at $4.88 compared to the $4.74 per share anticipated by analysts.
