Netflix sees 35% QoQ jump in ads membership; Q3 revenue up 15% from last year
The streaming platform’s APAC business leads in revenue growth across regions with 19% YoY increase, backed by local content slate, including India
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Published: Oct 18, 2024 8:16 AM | 1 min read
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Netflix has posted 35% quarter-on-quarter jump in ads membership in its Q3 results.
The streaming platform's revenue has increased 15% to $9.83 billion as compared to last year.
The company has announced in its financial statements that it has added 5.1 million subscribers during the quarter.
"We continue to build our advertising business and improve our offering for advertisers. Ads membership was up 35% quarter on quarter, and our ad tech platform is on track to launch in Canada in Q4 and more broadly in 2025," the company said.
Netflix has said that it expects to deliver “solid revenue and profit growth by both improving our core series and film offering while investing in new growth initiatives like ads and gaming."
The streaming company has said that its APAC business leads in all regions with 19% revenue growth rate. “We’re improving our product/market fit in APAC and had a strong local content slate in Japan, Korea, Thailand and India in Q3. As a result, our revenue growth rate in APAC (+19% year over year) led all regions.”
As for its content slate, ‘Maharaja’ has secured 22.6M views, the company’s financial statement said.
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