Netflix profits soar with ads and higher subscription prices
Revenue climbed 16% to $11.1 billion for the quarter ending June 30, surpassing both analyst expectations and the company's own projections. Net profit surged to $3.1 billion, prompting Netflix to raise its full-year revenue forecast to between $44.8 billion and $45.2 billion.
Content remained a key driver, with major hits like the third season of 'Squid Game' drawing 122 million views. The company called it 'our sixth biggest season of any series in our history.' Other successful titles included 'Ginny & Georgia' (53 million views) and 'Sirens' (56 million views). The animated film 'KPop Demon Hunters' also performed well, reaching 80 million views and topping global music charts with its soundtrack.
Netflix highlighted the continued popularity of Korean content, reinforcing its global strategy. Looking ahead, the company is optimistic about upcoming releases, including the second season of 'Wednesday,' the final season of 'Stranger Things,' and new films from acclaimed directors like Kathryn Bigelow and Guillermo del Toro.
The platform is also expanding into live programming, with plans for marquee boxing matches and NFL games. This diversification aligns with Netflix's push beyond traditional on-demand entertainment.
Investors have responded positively, with shares rising over 40% year-to-date. The company's crackdown on password sharing and introduction of ad-supported tiers have boosted profitability. While Netflix no longer discloses subscriber numbers, it continues to focus on engagement metrics.
Advertising remains a key growth area, with Netflix expecting to double ad revenue in 2025. The company forecasts $9 billion in ad-based revenue by 2030.
'With another robust earnings showing in Q2, Netflix continues a winning streak going back several quarters and cements its place as the leader among streaming services,' said Emarketer analyst Paul Verna. - AFP
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Hype Malaysia
2 hours ago
- Hype Malaysia
(Video) Colgate Malaysia Teases Collaboration With K-pop Icon IU; Is She Coming To KL?
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The Sun
4 hours ago
- The Sun
Charming xianxia romp
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The Star
5 hours ago
- The Star
Cha Eun-woo covers KPop Demon Hunters song Free with Arden Cho
Cha Eun-woo (left) and Arden Cho cover the song Free from Netflix film KPop Demon Hunters. Photo: Arden Cho/YouTube The wait is over for fans who have been looking forward to the collaboration between South Korean singer-actor Cha Eun-woo and American actress Arden Cho. On July 27, Netflix dropped a video of their duet for the song Free from the streaming platform's hit animated movie KPop Demon Hunters (2025). The film follows the members of Huntrix, a fictional K-pop girl group, who are fighting to save the world from soul-stealing demons and competing with fictional K-pop boy band Saja Boys from the demon world. 'This cover of Free by Huntrix has officially pierced my heart,' Netflix wrote on Instagram, and thanked the two stars. In the film, the romantic ballad is sung by the characters Rumi, leader and lead vocalist of Huntrix, and Jinu, leader of Saja Boys. Cho, best known for her roles in American supernatural teen series Teen Wolf (2011 to 2017) and legal drama Partner Track (2022), voices Rumi, with Korean-American singer Ejae providing the character's singing voice. Jinu is voiced by Canadian actor Ahn Hyo-seop, with South Korean singer Andrew Choi providing the character's singing voice. K-drama idol Cha was reportedly the inspiration behind Jinu. Cho, 39, also posted on Instagram and her YouTube channel on July 26 a video in which she chatted with Cha, 28 – a member of K-pop boy band Astro – about their duet. He is set to begin his mandatory military service on July 28. 'I'm here with one of my awesome 'dongsaeng' (Korean for younger sibling or friend),' she said. 'But people don't really know you're one of my 'dongsaeng' because we never posted a picture or anything.' Cha said they were introduced about five years ago via a South Korean producer who worked on some of his shows. He had starred in K-dramas such as My ID Is Gangnam Beauty (2018), Rookie Historian Goo Hae-ryung (2019) and True Beauty (2020 to 2021). 'When I was in America, she introduced (me to) a lot of delicious brunch cafes and restaurants,' Cha said of Cho. 'We love eating.' Cho remarked that Cha looks like Jinu, adding: 'And I thought it'd be really fun and special if we did a collaboration.' Cha also said Cho resembles Rumi, and that it was a sentiment shared by many of his celebrity friends in South Korea and his staff. 'We were texting about KPop Demon Hunters and when we were talking about the movie, I mentioned I was coming to Korea to do some press,' Cho said. 'We were, like, wouldn't it be fun if we covered it?' Cha said he loves all the songs from the movie, especially Free . Cho added that her fiance is a huge fan of Cha's. She announced her engagement on social media in April without revealing his name. 'He's been waiting for our cover. He said you're so cool and so good-looking. You really look like Jinu.' – The Straits Times/Asia News Network
