Netflix Crosses 230.75 Million Global Paid Subscribers, Co-CEO Reed Hastings Steps Down - News

Netflix Crosses 230.75 Million Global Paid Subscribers, Co-CEO Reed Hastings Steps Down – News

“Paid sharing” subscription choices to be obtainable “extra broadly” in 1st quarter of 2023


IndieWire reported on Thursday that Netflix has crossed 230.75 million world paid subscribers, gaining 7.66 million subscribers within the ultimate quarter of 2022. The information web site additionally reported that the corporate’s co-founder and co-CEO Reed Hastings is stepping down from his publish.

Netflix additionally introduced that its “paid sharing” subscription choices might be obtainable “extra broadly” within the first quarter of 2023.

The firm is appointing Greg Peters as co-CEO, who will serve alongside Ted Sarandos. Peters was previously the chief working officer of the corporate. Hastings will now function Netflix‘s govt chairman.

Netflix had predicted a achieve of 4.50 million subscribers in 2022’s fourth and ultimate quarter. The firm had added 2.41 million subscribers to its service within the third quarter of 2022, after losing about 200,000 subscribers within the 12 months’s first quarter, and another 970,000 within the second quarter.

Netflix‘s new commercial-supported “Basic with Ads” subscription tier launched on November 3 within the United States, the United Kingdom, Canada, Japan, Korea, Mexico, Brazil, Spain, France, Germany, Italy, and Australia.

Netflix introduced in June that it was shedding 300 workers from its workforce. The Hollywood Reporter acknowledged that the layoffs constituted round 3% of the corporate’s present workforce. Netflix laid off about 150 workers, principally primarily based within the United States, in May.

The streaming service carried out a worth enhance in subscription plans within the U.S. and Canada in early 2022.

Source: IndieWire (Tony Maglio) (link 2, Wilson Chapman)