Netflix’s 4Q subscribers surge, long-time CEO passes baton

Published January 19, 2023 2:11 pm

By MICHAEL LIEDTKE
AP Technology Writer

Netflix’s subscriber growth is surging again. That’s providing an early sign that its shift to include ads in a cheaper version of its video streaming service is helping combat tougher competition and attract cost-conscious customers grappling with inflation. The company on Thursday disclosed a gain of 7.7 million subscribers during the October-December period, a stretch that included the debut of an ad-supported option for $7 per month. It’s the second straight quarter of strong subscriber growth after two quarters or losses. The company based in Los Gatos, California, also announced Thursday that its co-founder Reed Hastings is relinquishing his role as co-CEO to become executive chairman.

Article Topic Follows: AP National Business

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