Netflix crosses 230.75 million paid subscribers worldwide, co-CEO Reed Hastings steps down - Reuters

“Paid Sharing” subscription options will be available “more widely” in Q1 2023

IndieWire reported on Thursday that netflix crossed 230.75 million paid subscribers worldwide, gaining 7.66 million subscribers in the last quarter of 2022. The news site also reported that the company’s co-founder and co-CEO, Reed Hastings, resigns from his post.

netflix also announced that its “paid sharing” subscription options will be available “more widely” in the first quarter of 2023.

The company appoints Greg Peters as co-CEO, who will serve alongside Ted Sarandos. Peters was previously the company’s chief operating officer. Hastings will now serve as netflixexecutive chairman.

netflix had predicted a gain of 4.50 million subscribers in the fourth and final quarter of 2022. The company had added 2.41 million subscribers to its service in the third quarter of 2022, after losing approximately 200,000 subscribers in the first quarter of the year, and another one 970,000 in the second quarter.

netflixthe new ad-supported “Basic with Ads” subscription tier spear on November 3 in the United States, United Kingdom, Canada, Japan, Korea, Mexico, Brazil, Spain, France, Germany, Italy and Australia.

netflix announcement in June that it was laying off 300 employees from its workforce. The Hollywood Reporter said the layoffs constituted about 3% of the company’s current workforce. netflix fired about 150 employees, mostly based in the United States, in May.

The streaming service implemented a price increase for subscription plans in the United States and Canada in early 2022.

Source: IndieWire (Tony Maglio) (link 2Wilson Chapman)

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