Netflix's Q2 2024 earnings revealed that the streamer added a total of 8 million additional subscribers during the quarter.
According to THR, the streaming service now has a total of 277 million subscribers globally to even further its lead from competitors. Netflix also reported that they surpassed expectations and earned $9.56 billion USD in revenue and $2.6 billion USD in operating income, and are looking at a 14% revenue growth in the next quarter.
Netflix also referenced a Nielsen Gauge report stating that the streamer and YouTube both garnered more viewing minutes separately than the minutes of its competitors (Prime Video, Hulu and Disney+) combined. “The challenge for so many of our competitors is that while they are investing heavily in premium content, it’s generating relatively small viewing on their streaming services and linear continues to decline,” Netflix shared, adding that “we believe our biggest opportunity is winning a larger share of the 80%+ of TV time (primarily linear and streaming) that neither Netflix nor YouTube has today.”
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