Netflix Gains 8M Subscribers in June with Bridgerton as Most-Watched Show

Bridgerton surged in popularity in June, becoming the most-watched show of any month, and contributing to Netflix’s addition of eight million subscribers over the past few months.

In June, the period romance series achieved a staggering 9.3 billion viewing minutes, securing the title of the most-watched show across all streaming platforms for the second month in a row.

Netflix revealed on Thursday that it gained eight million subscribers in the April-June period, marking a 37 percent growth compared to the same timeframe in 2022.

Flagship shows like Bridgerton and limited series Baby Reindeer dominated the most-watched charts, according to Nielsen data, potentially fueling the surge in new subscribers.

In 2022, Netflix began cracking down on password sharing by imposing restrictions on users sharing their accounts with those outside their households. This move was accompanied by the introduction of a lower-tier subscription plan featuring commercials.

The crackdown on password-sharing has resulted in an increase of nearly 55 million subscribers, bringing the global total to 278 million as of June.

However, Netflix anticipates that this surge in subscribers may level off soon. The company plans to emphasize the development of its ad-supported subscription tier going forward.

Although Netflix did not disclose the number of subscribers for its ad-supported plan, it noted that the quarter concluded with a 34 percent increase in subscribers from March.

Even with an uptick in subscriptions to the ad-supported tier, Netflix said that ad revenue wouldn’t become a significant part of its earnings until at least 2026.

“Ads are going to be a bigger piece of the puzzle, but it won’t be in 2024 or 2025,” said Spencer Neumann, Netflix’s Chief Financial Officer, during a conference call with analysts on Thursday.

Going forward, Netflix aims to strengthen its lead by exploring new areas such as sports, live events, and gaming.

A multi-player video game tied to the second season of the popular South Korean dystopian series Squid Game is in the works for later this year. Additional content related to other popular shows like Emily in Paris is also being developed.

The Netflix ad-supported subscription is priced at £4.99 in the UK and $6.99 in the US.

Source: Independent