Netflix revealed in its third-quarter earnings report that subscribers spend an average of two hours daily on the platform, with household viewership rising compared to last year.
The streaming giant reported $9.83 billion in revenue and $2.91 billion in operating income while adding around 5 million new subscribers, bringing the global total to 282.7 million. Half of these new sign-ups opted for Netflix’s ad-supported plan.
Despite accounting for just under 10% of total TV usage in its largest markets, Netflix sees the potential to grow its share by offering a steady flow of high-quality shows and films. Notable upcoming content includes Squid Game season 2, the final season of Arcane, and an animated Witcher movie.
In an earnings call, co-CEO Greg Peters confirmed the global rollout of a platform redesign. This comes as Netflix shifts focus from subscriber numbers to revenue sources like advertising and paid sharing. Additionally, live events like WWE Monday Night Raw and the upcoming Mike Tyson vs. Jake Paul fight will expand Netflix’s content offerings alongside its growing library of games.
