Netflix is aggressively working on getting more subscribers onboard with some amazing content. From Monster: The Jeffrey Dahmer Story to Blonde, the streaming platform has had some amazing content this year. The streaming platform has surely increased its profit this year as compared to the April to July 2022 window. That’s when it lost almost a million subscribers. Now, it has claimed to the shareholders that it is the only profitable streaming giant in the market.
Netflix Reports $6 Billion Annual Operating Profit For 2022
In its third-quarter earnings call, Netflix claimed that it believes its competitors like Disney+ and Prime Video are investing a lot to bring in more engagement and subscribers. Even with such a vigorous marketing campaign, they are still failing to become profitable. Netflix came to this conclusion based on certain estimates and it also believes that all its competitors combined experienced operating losses of more than $10 Billion. This is a big contrast to what Netflix has reported as its annual operating profit which is about $5 to $6 billion.
As per CBR.com, the streaming service enjoys a higher percentage of market shares as compared to other platforms in US and UK markets. This is Netflix’s ongoing strategy for growth reacceleration after experiencing massive losses in the first and second quarters. Netflix’s viewership has skyrocketed over the recent months given the popularity of its series such as Stranger Things Season 4 and exclusive movies such as The Gray Man. Moreover, Ryan Murphy’s Dahmer and The Watcher have earned the streaming platform more subscribers than ever in the content market.
Netflix Has Invested In Growing its International Market
Netflix has also invested in the growth of its Asian streaming market and garnered subscribers through shows such as Extraordinary Attorney Woo. The series has topped the charts in countries such as Japan and South Korea. The streaming platform bagged a big win with true crime dramas such as Dahmer that easily surpassed big hits such as Prime Video’s The Rings Of Power and HBO’s House of The Dragon. This series also sparked several controversies like fans protesting the glamorization of a serial killer.
Even some of the crew members claimed to have developed PTSD from poor treatment during the filming of the series. Dahmer was later dethroned by The Watcher which is another masterpiece by Ryan Murphy.
Netflix Soon To Introduce An Ad-Supported Plan
However, despite these well-received outputs, Netflix has struggled to keep up its subscriber count. This is because of the rising global cost of living crisis. The streamer currently has around 1 million subscribers in the United Kingdom. Now consumers are feeling the brunt of rising prices and wish to cut unnecessary expenses. In order to keep the subscribers on board the streaming platform also has new plans. It will soon roll out a lower-priced plan with ad support.
Are you a Netflix subscriber? Do you think the streaming platform has been successful in keeping its subscribers engaged with its latest releases? Share your thoughts in the comments!
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