Netflix Bounces Back in Q3 With 2.4 Million Subscriber Gain, Issues Upbeat Q4 Forecast but Doesn‘t Expect ‘Material’ Lift From Ad-Plan Launch
variety.comTodd Spangler NY Digital Editor After two straight quarters of subscriber losses, Netflix returned to growth in the third quarter of 2022 — and told investors it’s expecting a strong Q4 to finish the year, even though it doesn’t expect big gains right away from the launch of its cheaper, ad-supported plans.
The streaming giant reported 2.41 million net new paid subscribers in Q3, including a gain of 100,000 in the U.S./Canada region, to stand at 223.1 million worldwide as of the end of September.
That handily topped Netflix’s previous forecast of a 1 million pickup for the period. For Q4, Netflix expects to gain 4.5 million new streaming customers, compared with 8.3 million in the year-earlier quarter.
Netflix Basic With Ads is slated to launch in the U.S. on Nov. 3 and priced at $6.99 per month — three dollars less than the regular Basic plan.
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