Netflix, announced in part of its Q1 2023 earnings report, has gained 1.75 million subscribers so far this year, bringing its total global subscriber count to 232.5 million people around the world.
The numbers represent a 4.9% year-over-year increase compared to the challenging first quarter of 2022, when the streaming giant lost subscribers and triggered a ripple effect on other media companies that invested heavily in streaming.
Compared to the previous quarter, the Q1 total of 232.5 million subscribers reflects a modest increase from the fourth quarter, when Netflix ended 2022 with 230.75 million global subscribers, adding 7.66 million subscribers during the fourth quarter after suffering a loss of over 970,000 subscribers at one point that year and, as a result, facing a significant drop in share prices.
Despite the setbacks of 2022, Netflix’s Q1 performance could show 2023 as a turnaround year, thanks in part to a better-than-expected fourth quarter and continued subscriber growth in the prior year. The company reported $8.16 billion in revenue during the first quarter.
In terms of regional performance, Netflix experienced modest growth in the US and Canada, adding nearly 100,000 total subscribers during the quarter. However, some of these additions may have been through the cheaper tier of the service, which included the addition of advertisements.
This article used as a source the writing by David Wolinsky to the website GameSpot.
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