Netflix reverses decline by adding 2.4 million subscribers

Netflix says over 2.4 million subscribers have joined the streaming platform in the third quarter of this year, reversing a trend of them leaving earlier this year.

Netflix has 223.09 million global paid memberships, 1 million more than predicted, according to the company's quarterly earnings report released Tuesday. The platform had been losing subscribers since the fourth quarter of 2021, when it had 221.84 subscribers. 

The losses have been attribute at least in part to an increasingly crowded and competitive streaming market and people getting out of the homes more as the pandemic lessens. 

"After a challenging first half, we believe we’re on a path to reaccelerate growth," Netflix said. "The key is pleasing members. It’s why we’ve always focused on winning the competition for viewing every day."

Many of the new paying members – 1.4 million – come from Australia and Asia.

Netflix, which says it has a $5 to $6 billion operating profit, stood firm earlier this year against protests from the left urging for censorship on the platform.