According to the streaming juggernaut, its user base increased by 2.4 million homes between July and September. After raising its prices in important markets, that helped it recover from the losses it experienced in the first half of the year.

The company wrote in a statement to investors, 'After a hard first half, we believe we're on a path to reaccelerate growth.' In order to turn things around, it is also implementing a number of adjustments, including releasing a less priced alternative with adverts next month.

Beginning in early 2023, new fees targeted at those who share their accounts will begin to be applied more extensively. This information was released a day after the business claimed to have developed a method for transferring user profiles, including viewing history and preferences, to new accounts in order to preserve customised settings.

Analysts predicted that the changes would increase the company's profitability. However, it is still unlikely that the company, which is currently a staple of families in many nations, has much more opportunity to develop, especially given that a lot of the competitors has recently suffered a stall in subscriber growth.

The most recent quarter saw growth driven by new subscribers from the Asia-Pacific region, pushing Netflix's subscriber total over 223 million, according to the company. The most recent quarter saw growth driven by new subscribers from the Asia-Pacific region, pushing Netflix's subscriber total over 223 million, according to the company.

However, following a surge during the pandemic, the business has found it difficult to draw in new customers and keep the loyalty of current ones.

Major market price increases contributed to the issue, particularly when people are cutting back as a result of growing living expenses. Intense rivalry exists between the business and services like YouTube, Apple TV, HBO Max, Amazon Prime, and Disney+.

The company's shares have fallen precipitously this year, forcing it to cut staff and reevaluate fundamental business principles like advertising and timing the release of popular episodes like Stranger Things, which had its most recent season released in 2 batches. 

Executives also argued that they had figured out how to produce events and make a profit before the competition.

The company went on to say that the streaming market will change once more as competitors stop investing heavily in the creation of new streaming services and start concentrating on the bottom line.