Netflix reported that it gained more than 2 million subscribers in the recent quarter.
Netflix's renewed subscriber growth in the recently ended quarter came as the streaming television titan is poised to debut an ad-subsidized tier in a dozen countriesNetflix on Tuesday reported that it gained more than 2 million subscribers in the recent quarter, calming investor fears that the streaming giant was losing paying customers.
"The timing is great because we really are at this pivotal moment in the entertainment industry and evolution of that industry," Peters said.Netflix is working with Microsoft on its ad-supported tier, and teams at both companies will likely need to be bulked up to handle the huge demand by advertisers, Peters said.
"In directly acknowledging competition and using advertising, Netflix is adapting to the streaming landscape's new normal," said Insider Intelligence principal analyst Ross Benes.Netflix expects to add another 4.5 million subscribers in the final quarter of this year. Netflix said in a letter to shareholders that it believes its competitors have been losing money as they invest heavily to win audiences.
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