Netflix's Blockbuster Originals Like 'Bridgerton' and 'Baby Reindeer' Fuel Subscriber Growth as Ad-Supported Tier Makes Gains
Netflix's second-quarter earnings highlighted its leadership in the streaming industry, with increased global subscribers and significant growth in its advertising business. Total paid memberships and revenue both increased year over year, with the growth in average paid memberships driving revenue slightly above expectations. Netflix reported that its new, cheaper ad-supported tier is gaining popularity, although it does not anticipate advertising revenue to be the main driver of growth in the near future. Original shows like "Bridgerton" and "Baby Reindeer" continue to drive subscriber engagement. The streaming giant secured a deal to stream NFL games on Christmas Day for the next three years.
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00:00It's Benzinga, and here's what's on the block.
00:02Netflix's second quarter earnings highlighted its leadership in the streaming industry with
00:06an increase in global subscription and significant growth in its advertising business.
00:10Total paid memberships and revenue both saw year-over-year increases,
00:15with the growth in average paid subscriptions driving revenue slightly above expectations.
00:19Netflix reported that its new, cheaper, ad-supported tier is gaining popularity,
00:24although it does not anticipate advertising revenue to be the main driver of growth in the
00:28near future. Original shows like Bridgerton and Baby Reindeers continue to drive subscriber
00:33engagement. The streaming giant actually secured a deal to stream NFL games on Christmas Day
00:39for the next three years. For all things money, visit Benzinga.com.