Netflix has recovered from recent subscriber losses to surpass Disney+ and reclaim the title of world’s largest video streaming service.
Netflix rebound knocks Disney off perch
Netflix has reversed its recent subscriber losses with a US summertime gain, ahead of its launch a cheaper version of the video streaming service that will include ads for the first time.
It picked up 2.4 million subscribers during the July-September period, the US firm said on Tuesday, marking a comeback from a loss of 1.2 million customers during the first half of the year amid stiffer competition and soaring inflation that is squeezing household budgets.
Netflix now boasts 223 million subscribers, enabling the company to at least temporarily reclaim the mantle as the world’s largest video streaming service.
Disney+ eclipsed Netflix in August when it reported its service had 221 million subscribers, a number that will be updated on November 8 when Disney is scheduled to report its summertime results.