Kerry Washington and Charlize Theron in 'The School for Good and Evil'. Photo: Netflix
Kerry Washington and Charlize Theron in 'The School for Good and Evil'. Photo: Netflix
Jason Momoa in the fantasy film 'Slumberland'. Photo: Netflix
Jason Momoa in the fantasy film 'Slumberland'. Photo: Netflix
Huma Qureshi in the black comedy 'Monica O My Darling'. Photo: Netflix
Huma Qureshi in the black comedy 'Monica O My Darling'. Photo: Netflix
Ana de Armas as Marilyn Monroe in 'Blonde'. Photo: Netflix
Ana de Armas as Marilyn Monroe in 'Blonde'. Photo: Netflix
Chris Hemsworth and Miles Teller star in 'Spiderhead'. Photo: Netflix
Chris Hemsworth and Miles Teller star in 'Spiderhead'. Photo: Netflix
The cast of the coming Korean drama 'Seoul Vibe'.
The cast of the coming Korean drama 'Seoul Vibe'.
Daniel Craig in 'Knives Out'. The actor will return as detective Benoit Blanc in the sequel. Photo: Netflix
Daniel Craig in 'Knives Out'. The actor will return as detective Benoit Blanc in the sequel. Photo: Netflix
A still from Korean drama 'Yaksha: Ruthless Operations'. Photo: Netflix
A still from Korean drama 'Yaksha: Ruthless Operations'. Photo: Netflix
Jennifer Lopez will play an assassin on the run in 'The Mother'. AP
Jennifer Lopez will play an assassin on the run in 'The Mother'. AP
Dev Patel is set to make his directorial debut with 'Monkey Man'. EPA
Dev Patel is set to make his directorial debut with 'Monkey Man'. EPA
Ryan Gosling will team up with Chris Evans in 'The Gray Man'. EPA
Ryan Gosling will team up with Chris Evans in 'The Gray Man'. EPA
Jamie Foxx and John Boyega will star in the film 'They Cloned Tyrone'. AP
Jamie Foxx and John Boyega will star in the film 'They Cloned Tyrone'. AP
Halle Berry will star in sci-fi thriller 'The Mothership' on Netflix. EPA
Halle Berry will star in sci-fi thriller 'The Mothership' on Netflix. EPA
Adam Driver will be seen in Noah Baumbach's 'White Noise'. AP
Adam Driver will be seen in Noah Baumbach's 'White Noise'. AP
Ali Fazal will pair up with Tabu for the espionage thriller 'Khufiya'.
Ali Fazal will pair up with Tabu for the espionage thriller 'Khufiya'.

Business

Netflix reverses decline with renewed growth in subscribers

Global streaming platform added 2.4 million customers in the third quarter but continues to face challenges

Bloomberg

October 18, 2022

  • English
  • Arabic

Netflix is growing again and Hollywood can breathe a sigh of relief.

The streaming leader added 2.41 million customers in the third quarter, exceeding internal forecasts as well as expectations on Wall Street. Netflix grew in all regions of the world and said on Tuesday it expects to sign up another 4.5 million users globally this period.

While Netflix is not growing as it was a couple years ago, the world’s most popular streaming network is back on a positive trajectory after erasing customer losses in the first half of the year.

That is good news for investors, who suffered steep stock-market losses when the company reported slowing growth earlier in the year.

“After a challenging first half, we believe we’re on a path to reaccelerate growth,” the company said in a letter to shareholders.

'Stranger Things' in projection across the world — in pictures

Landmarks around the world were lit up with a special projection to promote the return of the hit Netflix show 'Stranger Things'. All photos: Netflix
Landmarks around the world were lit up with a special projection to promote the return of the hit Netflix show 'Stranger Things'. All photos: Netflix
A projection on Elephant Rock in AlUla, Saudi Arabia.
A projection on Elephant Rock in AlUla, Saudi Arabia.
Gateway of India in Mumbai, India.
Gateway of India in Mumbai, India.
Stockholm, Sweden.
Stockholm, Sweden.
Wawel Royal Castle in Krakow, Poland.
Wawel Royal Castle in Krakow, Poland.
Cologne in Germany.
Cologne in Germany.
Empire State Building in New York City, US.
Empire State Building in New York City, US.
Madrid in Spain.
Madrid in Spain.
Guggenheim Museum Bilbao in Pais Vasco, Spain.
Guggenheim Museum Bilbao in Pais Vasco, Spain.
Barranquilla in Colombia.
Barranquilla in Colombia.
Kuala Lumpur Tower in Malaysia.
Kuala Lumpur Tower in Malaysia.
Duomo Square in Milan, Italy.
Duomo Square in Milan, Italy.
Fans at the unveiling of the projection on the Empire State Building. EPA
Fans at the unveiling of the projection on the Empire State Building. EPA
Season four of 'Stranger Things' has been split into two parts, with the second being released on July 1, 2022. EPA
Season four of 'Stranger Things' has been split into two parts, with the second being released on July 1, 2022. EPA

Shares of Netflix rose as much as 12 per cent to $268.88 in extended trading after the results were out. The stock was down 60 per cent this year through the close on Tuesday in New York.

A strong series of fresh programmes attracted millions of new viewers in the third quarter. The period started with new episodes of Stranger Things, one of the most popular TV series in the world.

Netflix also released the Korean smash hit Extraordinary Attorney Woo, the movies The Gray Man and Purple Hearts, and the true crime drama Monster: The Jeffrey Dahmer Story, its second most popular English-language original series.

Read more

Netflix Basic with Ads launch date, price plans and everything you need to know

Top Arabic language shows to check out on Netflix

Revenue for the quarter grew 5.9 per cent to $7.93 billion, beating analysts’ projections.

Profit of $3.10 a share also topped estimates and the number of paying customers increased to 223.1 million.

However, it will not be all rosy going forward: Netflix is still on pace for its slowest growth in years. The company lost 1.2 million customers during the first half of the year — a decline that led investors and peers to reconsider their streaming investments.

The company estimates sales of $7.78bn this quarter, below the $7.98bn forecast by analysts. Earnings are expected to come in at 36 cents a share, a fraction of the $1.20 estimated on Wall Street.

Nonetheless, co-chief executives Reed Hastings and Ted Sarandos argue the company has plenty of room to grow.

The service accounts for about 8 per cent of TV viewing in the US and UK, two of its largest markets, and is adding market share every year, the company said in its letter. Netflix is also profitable, unlike the streaming services operated by most of its rivals.

Management plans to increase sales by introducing an advertising-supported version of the streaming service in November and charging for password sharing next year. Customers willing to watch Netflix with five minutes of advertising per hour can pay $7 a month, less than half of the cost of the most popular plan.

While investors have long judged Netflix based on the number of customers it adds every quarter, the company is trying to get them to consider more traditional financial measurements such as revenue and operating income. As a result, the company said it will no longer provide subscriber forecasts.

'Our Great National Parks' Netflix documentary — in pictures

Barack Obama narrates 'Our Great National Parks', which is on Netflix from April 13. All photos: Netflix
Barack Obama narrates 'Our Great National Parks', which is on Netflix from April 13. All photos: Netflix
'Our Great National Parks' is an endlessly fascinating and gorgeous exploration of some of the most beautiful and inspiring places on Earth.
'Our Great National Parks' is an endlessly fascinating and gorgeous exploration of some of the most beautiful and inspiring places on Earth.
Spanning five continents, it tells the story of the creatures that roam through the world's top national parks.
Spanning five continents, it tells the story of the creatures that roam through the world's top national parks.
Kenya’s Tsavo National Park and Indonesia’s Gunung Leuser National Park feature in the documentary.
Kenya’s Tsavo National Park and Indonesia’s Gunung Leuser National Park feature in the documentary.
It also explores the waters of Monterey Bay, California, and the eclectic terrain of Chilean Patagonia, to name only a few.
It also explores the waters of Monterey Bay, California, and the eclectic terrain of Chilean Patagonia, to name only a few.
Obama wants viewers to gaze in wonder and appreciate the innate beauty that these wild spaces have to offer.
Obama wants viewers to gaze in wonder and appreciate the innate beauty that these wild spaces have to offer.
The footage in the documentary is stunning.
The footage in the documentary is stunning.
Obama’s narration never comes close to reaching the heights of Sir David Attenborough’s dulcet tones, however.
Obama’s narration never comes close to reaching the heights of Sir David Attenborough’s dulcet tones, however.
In the fifth episode, it focuses on Gunung Leuser, and provides an all-encompassing view of the park’s ecosystem.
In the fifth episode, it focuses on Gunung Leuser, and provides an all-encompassing view of the park’s ecosystem.
This includes intimate looks at tigers, forest elephants, orangutans and Sumatran rhinos, which are the smallest of the species.
This includes intimate looks at tigers, forest elephants, orangutans and Sumatran rhinos, which are the smallest of the species.
Obama clearly has a vested interest and emotional connection to the preservation of national parks.
Obama clearly has a vested interest and emotional connection to the preservation of national parks.
The%C2%A0specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E4.4-litre%2C%20twin-turbo%20V8%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3Eeight-speed%20auto%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E617hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E750Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh630%2C000%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
On Women's Day
The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
While you're here
SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%20Apple%20M3%2C%208-core%20CPU%2C%20up%20to%2010-core%20CPU%2C%2016-core%20Neural%20Engine%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%2013.6-inch%20Liquid%20Retina%2C%202560%20x%201664%2C%20224ppi%2C%20500%20nits%2C%20True%20Tone%2C%20wide%20colour%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%208%2F16%2F24GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStorage%3A%3C%2Fstrong%3E%20256%2F512GB%20%2F%201%2F2TB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20Thunderbolt%203%2FUSB-4%20(2)%2C%203.5mm%20audio%2C%20Touch%20ID%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%20Wi-Fi%206E%2C%20Bluetooth%205.3%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%2052.6Wh%20lithium-polymer%2C%20up%20to%2018%20hours%2C%20MagSafe%20charging%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECamera%3A%3C%2Fstrong%3E%201080p%20FaceTime%20HD%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%20Support%20for%20Apple%20ProRes%2C%20HDR%20with%20Dolby%20Vision%2C%20HDR10%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAudio%3A%3C%2Fstrong%3E%204-speaker%20system%2C%20wide%20stereo%2C%20support%20for%20Dolby%20Atmos%2C%20Spatial%20Audio%20and%20dynamic%20head%20tracking%20(with%20AirPods)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColours%3A%3C%2Fstrong%3E%20Midnight%2C%20silver%2C%20space%20grey%2C%20starlight%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20MacBook%20Air%2C%2030W%2F35W%20dual-port%2F70w%20power%20adapter%2C%20USB-C-to-MagSafe%20cable%2C%202%20Apple%20stickers%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh4%2C599%3C%2Fp%3E%0A
Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

SPECS

Mini John Cooper Works Clubman and Mini John Cooper Works Countryman

Engine: two-litre 4-cylinder turbo

Transmission: nine-speed automatic

Power: 306hp

Torque: 450Nm

Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500

On Women's Day
Results

2pm: Serve U – Maiden (TB) Dh60,000 (Dirt) 1,400m; Winner: Violent Justice, Pat Dobbs (jockey), Doug Watson (trainer)

2.30pm: Al Shafar Investment – Conditions (TB) Dh100,000 (D) 1,400m; Winner: Desert Wisdom, Bernardo Pinheiro, Ahmed Al Shemaili

3pm: Commercial Bank of Dubai – Handicap (TB) Dh68,000 (D) 1,200m; Winner: Fawaareq, Sam Hitchcott, Doug Watson

3.30pm: Shadwell – Rated Conditions (TB) Dh100,000 (D) 1,600m; Winner: Down On Da Bayou, Xavier Ziani, Salem bin Ghadayer

4pm: Dubai Real Estate Centre – Maiden (TB) Dh60,000 (D) 1,600m; Winner: Rakeez, Patrick Cosgrave, Bhupat Seemar

4.30pm: Al Redha Insurance Brokers – Handicap (TB) Dh78,000 (D) 1,800m; Winner: Capla Crusader, Bernardo Pinheiro, Rashed Bouresly

Volvo ES90 Specs

Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)

Power: 333hp, 449hp, 680hp

Torque: 480Nm, 670Nm, 870Nm

On sale: Later in 2025 or early 2026, depending on region

Price: Exact regional pricing TBA

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
THURSDAY'S FIXTURES

4pm Maratha Arabians v Northern Warriors

6.15pm Deccan Gladiators v Pune Devils

8.30pm Delhi Bulls v Bangla Tigers

And%20Just%20Like%20That...
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Various%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Sarah%20Jessica%20Parker%2C%20Cynthia%20Nixon%2C%20Kristin%20Davis%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

Up in the air
Updated: October 19, 2022, 10:05 AM`
USNetflix