Netflix Passes 230.75 Million Paid Subscribers Worldwide, Co-CEO Reed Hastings Steps Down ArchDaily

“Paid Sharing” subscription options will become “wider” available in Q1 2023


IndieWire reports this on Thursday Netflix has reached 230.75 million paid subscribers worldwide, with 7.66 million subscribers in the last quarter of 2022. The news website also reported that the company’s co-founder and co-CEO Reed Hastings is stepping down from his position.

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

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

Netflix had forecast a profit 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 970,000 in the second quarter.

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

Netflix announced in June that it would lay off 300 employees. The Hollywood Reporter stated that the layoffs accounted for about 3% of the company’s current workforce. Netflix laid off about 150 employees in May, mostly in the United States.

The streaming service implemented a price increase in subscriptions in the US and Canada in early 2022.

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

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