Netflix explodes subscriber expectations and announces a change

Netflix explodes subscriber expectations and announces a change

Netflix now has 230.75 million paid subscribers.

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Lhe streaming services giant Netflix announced on Thursday that its founder Reed Hastings is stepping down as co-chief executive to Greg Peters, alongside Ted Sarandos.

“I’m so proud of our first 25 years, and so excited for the next 25,” said Hastings, who originally started a DVD rental service by mail. He will remain with the company as “executive chairman”.

Results up

This announcement comes as Netflix explodes expectations with more than 230 million subscribers worldwide.

Netflix now has 230.75 million paid subscribers, significantly beating its forecast and market expectations for the last quarter, and turning the page on a very difficult 2022 for the streaming service, according to a statement from Netflix. results released Thursday.

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Netflix had gone through a rough patch last year. The service had lost nearly 1.2 million subscribers in the first half. It had started to attract millions again in the third quarter, and then gained 7.66 million new subscribers between October and December, much more than expected.

The platform has benefited in particular from new seasons of successful series such as The crownabout the British royal family, and Emily in Parisbut also new programs, including the documentary series Harry and Meghan and the phenomenon series Wednesday.

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