Netflix trounces competition in streaming wars

October 21, 2024 - Netflix has reported another quarter of subscriber growth, taking its global total to 282.72 million paying subscribers – around 130 million more than its nearest rival, Disney+.

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Netflix, which began in 1997 as a postal DVD rental service, has reported another quarter of subscriber growth, taking its global total to 282.72 million paying subscribers.

That gives Netflix approximately 130 million more subscribers than its nearest rival, Disney+.

The company’s business model, which requires it to spend tens of billions of dollars on content every year, saw it increase prices recently (the most expensive package now cost $22.99 a month in the U.S.), but this hasn’t put off subscribers.

Netflix’s third quarter was the company’s most profitable in its history, with profits up 41% year-on-year.