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Los Angeles Times
Los Angeles Times
Business
Wendy Lee

Some good news for Netflix, with subscriber gains in the third quarter

Netflix Insider Intelligence

After two consecutive quarters of subscriber decline, Netflix said its prospects look brighter for the second half of the year as it prepares to launch a cheaper streaming plan with ads.

The Los Gatos, Calif.-based streamer added 2.4 million subscribers in the third quarter, beating projections by the company and Wall Street. Netflix said it expects to add an additional 4.5 million customers in the fourth quarter.

“After a challenging first half, we believe we’re on a path to re-accelerate growth,” Netflix said in a letter to shareholders on Tuesday.

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