Netflix exceeds subscriber growth estimate by 3 million
January 20, 2023 - The world’s largest streaming service has released its fourth-quarter 2022 earnings report, showing it added 7.66 million subscribers globally – beating its own estimate by more than three million.
U.S. streaming giant Netflix ended 2022 with more than 230 million global subscribers, beating analysts’ expectations as hits like “Harry & Meghan” drew in new viewers.
The company said it enticed 7.66 million new members in the past three months – more than three million above their earlier estimate of 4.5 million subscribers.
When Netflix became a publicly traded company in 2002, it had an opening price of $15 a share. Now its shares trade for $337.31 – up almost 50 percent in the past six months.
Fresh content also helped attract users to Netfix’s new lower-priced “Basic with Ads” subscription service, as consumers cut back on entertainment spending amid an uncertain economic outlook.