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Netflix shares surge on big subscriber additions despite Hollywood strikes

Economic Times · 1y

Netflix's shares surged by 16.23% as the streaming giant gained 9 million subscribers in the third quarter, defying the impact of Hollywood strikes. The company capitalized on its global production capabilities and the struggles of its competitors to attract 247 million subscribers. Netflix's successful management of investor expectations and its ability to provide fresh content during the strikes have contributed to its continued growth. However, the delays in producing some of its biggest shows could pose challenges for the platform in the future.