US streaming giant Netflix has shut down last year with more from 230 million global She said on Thursday, beating analysts’ expectations as hits like “Wednesday” and “Harry and Meghan” enticed her. new viewers.
“2022 has been a tough year with bumpy start But a brighter finish, the company said in Message announcing the fourth bumper-quarter earnings.
Netflix also announced Co-founder Reed Hastings was standing by down As CEO, over 25-year leadership that saw the company grow from a mail-order DVD rental service to an entertainment giant.
Hastings ceded control of Netflix to two of its longtime partners, Chief Operating Officer Greg Peters and Ted Sarandos, who It was face of Netflix in Hollywood and it was already He was appointed co-CEO.
“it feels like Yesterday was our IPO. We’re covered in Red envelopes,” Hastings said during earnings call.
“Hopefully, some of I kept stock for Every 21 years.
Netflix becomes a publicly traded company in Early 2002 upon opening price of $15 share.
Involved in It was a broadcast television service up Approximately 7% to $337.31 in after, after-market post-release deals of the earnings Numbers.
Netflix board He was discussing succession planning for Many years, Hastings recalled out in Blog postI joke, “Even the founders need to evolve!
He said he would keep new profession of CEO, indicating that this was a role that tech Giant founders often take, using Examples include Jeff Bezos of Amazon and Bill Gates of Microsoft.
Change of was the guard announced Like Netflix posted added subscribers This blew past Even the most optimistic forecasts.
The streaming giant said it attracted 7.7 million people new Individuals in Three months, bringing Netflix membership about the world to 230 million people.
Netflix praised the hit list of new content This included a horror comedy called “Wednesday,” saying “The Addams Family” was the company’s third-highest-grossing film. series Start.
Royal Documentary ‘Harry and Meghan’ also Record, Netflix, as well as “Glass Onion: A Knives Out Mystery” starring Daniel Craig.
“This is it in Stark contrast with first half of the year. Create next The biggest hit drives subscribers,” He said tech And media analyst Paolo Pescatore.
New competitors
New titles helped attract users to new Low price ‘basic with Ads ”, where consumers cut back on their spending on entertainment amid rising inflation and uncertainty economy.
he won in The October-December period was worth $7.85 billion in Line with estimates.
Netflix insists that count new Users is no longer the most important criterion for Evaluate the health of the company and those revenues should instead be the main measurement.
What could be lost in This combination is that number of new subscribers – We don’t know how Many – probably came in on ad-supported Netflix layer,” said the director of Insider Intelligence analyst Paul Verna.
That means, most likely, a lower average earnings per subscriber, a measure that Wall Street will pay for more Attention to the increase in the amount of advertising business in Netflix up,” He said.
Netflix targets this year Include “motivate” viewers who use Shared passwords subscribers to drive themselves way.
“We have high confidence in our ability To accelerate revenue during the course of the year As we scale advertising and launch paid engagement (of said the head of Netflix financial Officer Spencer Newman.
Strongly confronts Netflix competition Rich competitors, including Disney +, which owns also Offer an ad-based subscription.
But despite challengesNetflix is one of there tech giants To gain confidence from Wall Street with It share price up almost 50% in the past six months.
else tech giants Disney has been reached on Markets lie as companies off Staffing and cost cutting After a massive hiring spree, spending is on the rise of coronavirus pandemic.
