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| Netflix adds 9 Million Subscribers in third Quarter |
Netflix's Third Quarter results exceed expectations with 9 million new subscribers and $8.5 billion in revenue.
1. Netflix adds 9 million subscribers in Third Quarter:
- Netflix added 9 million subscribers during the third quarter, beating Wall Street's expectations.
- Revenue was $8.5 billion, up 8% from the same period last year.
2. Netflix thrives despite industry strikes:
- Netflix was able to weather production stoppages due to the Writers Guild of America strike.
- The company's large library of original and licensed content contributed to its success.
3. New programs and expansions:
- During Third Quarter, Netflix launched new programs including 'One Piece,' 'Heart stopper,' and 'Love Is Blind'.
- The company has also ventured into new areas such as hosting its first live sports event.
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| One Piece: Netflix |
4. Cracking down on password sharing and raising prices:
- Netflix increased efforts to crack down on nonpaying users sharing passwords.
- The company also raised prices on its ad-free plans to boost revenue.
5. Investing in ad-supported plan and executive changes:
- Netflix continues to invest in its ad-supported plan, with growing membership.
- The company is also adjusting its executive compensation structure in response to shareholder concerns.
