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Louise Thomas
Editor
Bridgerton became the most-watched show of any month after seeing a massive surge in viewership in June and helping Netflix gain eight million subscribers in the last few months.
By amassing 9.3bn viewing minutes in June, the period romance set the record as the most-watched show across all streaming platforms for the second consecutive month.
Netflix announced on Thursday it added eight million subscribers over the April-June period, a 37 per cent increase over the same period in 2022.
Original Netflix shows like Bridgerton and limited series Baby Reindeer topped the most-watched charts, according to Nielsen data, likely adding to the subscriber boom.
In 2022, the streaming giant started blocking the widespread practice of password sharing with friends and family in other households, and instead, introduced a lower tier subscription with commercials.
The impact of the crackdown on password-sharing has led to almost 55m more subscribers, with the number touching 278m globally in June.
However, these gains are likely to taper off soon, the company announced, adding that it would focus more on ads for the lower-tier subscription.
While Netflix didn’t specify how many subscribers it has for the ad-based tier, it did say that June ended with a 34 per cent increase in subscribers from March.
Even with a growing number of subscribers opting for the ad-based tier, Netflix said advertising will not be a major source of revenue until at least 2026.
Watch Apple TV+ free for 7 days
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Watch Apple TV+ free for 7 days
New subscribers only. £8.99/mo. after free trial. Plan auto-renews until cancelled
“Ads are going to be a bigger piece of the puzzle, but it won’t be in 2024 or 2025,” Spencer Neumann, Netflix’s chief financial officer, told analysts during a conference call on Thursday.
To expand its lead, Netflix said it would look into areas like sports, live events, and gaming.
In development is a multi-player video game scheduled for later this year, connected to the second season of popular South Korean dystopian series Squid Game, as well as content related to shows likeEmily in Paris.
The Netflix subscription with ads costs £4.99 in the UK and $6.99 in the US.
