Netflix Beats Expectations With 34% Growth in Ad-Supported Subscribers
Netflix reported its second-quarter earnings on Thursday, demonstrating its dominance in the streaming industry with a significant increase in global subscribers and significant growth in its ad-supported subscription model.
The streaming giant saw a 34% increase in ad-supported subscriptions during this period compared to the same quarter last year.
Advertising has become a crucial revenue stream for media companies looking to improve, or even achieve, profitability in streaming. Netflix shares have benefited recently from efforts to attract subscribers to its most affordable ad-supported tier, along with moves to limit password sharing.
Here's a breakdown of Netflix's performance for the quarter ended June 30, versus Wall Street forecasts:
Earning per share: $4.88 vs. $4.74 forecast by...