Netflix added 2.4 million new subscribers in its most recent quarter, topping expectations that it would add one million.
Rob Wile
But the company said Tuesday that it continues to be profitable on an annual basis compared with its competitors, whose losses it estimated at"well over $10 billion." It also said it commands 7.6% of TV time, which it estimated as 2.6-times more than Amazon and 1.4-times more than Disney and Hulu. that the company's internal metrics had begun showing users coming to the platform less often. That prompted co-chief executive Reed Hastings to push his staff to improve visit frequency, the paper said.the company announced last week a new $6.99 a month ad-supported streaming tier would launch in November.
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