News culture Netflix’s controversial decisions have not hurt it! The platform is at the top, its revenues and subscribers have increased noticeably
Despite the company’s various decisions and criticism from the public, Netflix is in better shape than ever! The company has just registered several million new paying accounts and seems far from losing speed.
Profit records
Netflix gained new subscribers in the second quarter of 2024 far beyond analysts’ forecasts. Nearly 8.05 million paying customers have taken the plunge, joining the 271 million users who have already checked out around the world. Solid numbers made according to the company increase its revenue by 17% to $9.56 billion for the 2023-2024 fiscal year and generate net income of $2.15 billion (compared to $1.49 billion in 2023).again significantly above Wall Street forecasts.
These figures are all the more astonishing Competition between different streaming platforms worldwide is stronger than ever. In fact, the famous wave of cancellations promised by users after Netflix considered various decisions too slow has not taken place. On the contrary, the “Essential with advertising” formula has achieved considerable success, especially in Europe and among young people. Around a quarter of new Netflix subscribers choose the “Essential with advertising” plan. In France, this figure is as high as 40%. The company is still far from being down to earth.
Are you free?
But even though Netflix is at the peak of its success, competition is constantly increasing and new platforms are regularly entering the market. According to various persistent rumors, the “Tudum” brand may soon offer a 100% free subscription! In fact, some people who work for Netflix have said they want strengthen themselves in the advertising market. And while this solution may seem strange on paper, especially given the company’s decisions regarding subscriptions, it could all make sense thanks to a clear strategy: reconciliation.
Behind this barbaric term lies a theory by journalist Cory Doctorow that describes the progressive loss of quality of online platforms. Bulk goods, We build loyalty, then we make using the service a hassle for people who don’t pay for most premium subscriptions. Therefore, the only 100% free formula we can imagine for Netflix would be an extremely “enshitted” formula with ultra-invasive advertising and a limited catalog. However, this is merely a rumor that has not been refuted or confirmed by any statement from the company. Be continued.
