Netflix Added More Than 9 Million Subscribers in First Quarter

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Netflix added 9.3 million subscribers in the first quarter of 2024, it announced on Thursday, outperforming analysts’ expectations and solidifying its status as the entertainment industry’s dominant streaming company. It also generated $2.3 billion in net income and its revenue was $9.3 billion, 15 percent higher compared with the same time last year. Netflix now has almost 270 million subscribers around the world. The streaming giant said its quarter was buoyed by audience interest in series such as “Griselda,” “3 Body Problem” and “Avatar: The Last Airbender.” Its ad-tier business, which is now a year old and offers subscribers a lower-priced option, grew 65 percent from last quarter. The company said that in the markets where the ad tier was available, 40 percent of new sign-ups chose that option. Cracking down on password sharing among households also buoyed the company’s quarterly numbers.