Netflix on Thursday reported that its subscriber growth slowed dramatically during the summer, a sign the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off.
The 5.1 million subscribers that Netflix added during the July-September period represented a 42 per cent decline from the total gained during the same time last year. Even so, the company’s revenue and profit rose at a faster pace than analysts had projected, according to FactSet Research.
Netflix ended September with 282.7 million worldwide subscribers — far more than any other streaming service.
The Los Gatos, California, company earned US$2.36 billion, or US$5.40 per share, a 41 per cent increase from the same time last year. Revenue climbed 15 per cent from a year ago to US$9.82 billion. Netflix management predicted the company's revenue will rise at the same 15 per cent year-over-year pace during the October-December period, slightly better than analysts have been expecting.
The strong financial performance in the past quarter coupled with the upbeat forecast eclipsed any worries about slowing subscriber growth. Netflix's stock price surged nearly 4 per cent in extended trading after the numbers came out, building upon a more than 40 per cent increase in the company's shares so far this year.
The past quarter’s subscriber gains were the lowest posted in any three-month period since the beginning of last year. That drop-off indicates Netflix is shifting to a new phase after reaping the benefits from a ban on the once-rampant practice of sharing account passwords that enabled an estimated 100 million people to watch its popular service without paying for it.
The crackdown, triggered by a rare loss of subscribers coming out of the pandemic in 2022, helped Netflix add 57 million subscribers from June 2022 through this June — an average of more than 7 million per quarter, while many of its industry rivals have been struggling as households curbed their discretionary spending.
Netflix’s gains also were propelled by a low-priced version of its service that included commercials for the first time in its history. The company is still only getting a small fraction of its revenue from the 2-year-old advertising push, but Netflix is intensifying its focus on that segment of its business to help boost its profits.
In a letter to shareholders, Netflix reiterated previous cautionary notes about its expansion into advertising, though the low-priced option including commercials has become its fastest growing segment.
“We have much more work to do improving our offering for advertisers, which will be a priority over the next few years,†Netflix management wrote in the letter.
As part of its evolution, Netflix has been increasingly supplementing its lineup of scripted TV series and movies with live programming, such as a Labor Day spectacle featuring renowned glutton Joey Chestnut setting a world record for gorging on hot dogs in a showdown with his longtime nemesis Takeru Kobayashi.
Netflix will be trying to attract more viewers during the current quarter with a Nov. 15 fight pitting former heavyweight champion Mike Tyson against Jake Paul, a YouTube sensation turned boxer, and two National Football League games on Christmas Day.
A Canadian former Olympic snowboarder who is suspected of being the leader of a transnational drug trafficking group that operated in four countries is wanted for allegedly orchestrating the murder of an “innocent†couple in Ontario in 2023, authorities say.
Federal cabinet ministers Filomena Tassi, Carla Qualtrough, and Dan Vandal announced Thursday they will not run for re-election. Senior government sources tell Â鶹´«Ã½ at least one other – Marie-Claude Bibeau – doesn't plan to run again, setting the stage for Justin Trudeau to shuffle his cabinet in the coming weeks.
The former members of English boy band One Direction reacted publicly to the sudden death of their bandmate, Liam Payne, for the first time on Thursday, saying in a joint statement that they're 'completely devastated.'
Israeli forces in Gaza killed top Hamas leader Yahya Sinwar, a chief architect of last year’s attack on Israel that sparked the war, the military said Thursday. Troops appeared to have run across him unknowingly in a battle, only to discover afterwards that a body in the rubble was Israel’s most wanted man.
Trustees with an Ontario school board are responding to criticism over a $45,000 trip to Italy, where they purchased more than $100,000 worth of religious statues.
According to Google search data, the top Halloween costumes trending in Canada include everything from Taylor Swift for kids to the Joker and Harley Quinn for couples.
Shane Gross, a Canadian marine conservation photojournalist, has won the title of Wildlife Photographer of the Year.
NDP Leader Jagmeet Singh says it's very disturbing that Conservative Leader Pierre Poilievre won't get the top-level security clearance needed to view classified documents on foreign interference.
A Toronto court has ordered an assessment to determine if a woman accused of killing three people in three Ontario cities over three days is fit to stand trial at this time.
Some doctors in Ottawa say the pile of paperwork they're doing every day has been steadily growing as more public service workers seek doctor's notes in order to receive accommodations to work from home.
A Canadian former Olympic snowboarder who is suspected of being the leader of a transnational drug trafficking group that operated in four countries is wanted for allegedly orchestrating the murder of an “innocent†couple in Ontario in 2023, authorities say.
Police are investigating a fire at a home in Dorval owned by Emile Benamor, the owner of the two Old Montreal buildings that were allegedly set on fire in the past year, killing nine.
Prime Minister Justin Trudeau says Israel's killing of Hamas leader Yahya Sinwar in the Gaza Strip 'ends a reign of terror.'
Trustees with an Ontario school board are responding to criticism over a $45,000 trip to Italy, where they purchased more than $100,000 worth of religious statues.
An intoxicated person living on Highway 17 in Spragge, Ont., has been arrested for making repeated false 911 calls in a span of several hours Oct. 11.
For months, frustrated American officials looking to end the war in Gaza have mused quietly about the one scenario they believed could loosen deadlocked ceasefire talks: the death of Hamas leader Yahya Sinwar,
Yahya Sinwar masterminded an attack on Israel that shocked the world, unleashing a still-widening catastrophe with no end in sight.
Florida voters and election supervisors in hurricane affected areas will have extra time and flexibility to ensure they still have the ability to vote in November elections.
More than 1 billion people in the world live in acute poverty, over half are children and nearly 40 per cent live in conflict-torn and fragile countries, according to a report released Thursday.
Kenya’s Senate voted Thursday to remove Deputy President Rigathi Gachagua from office in an impeachment trial on corruption and other allegations, hours after the deputy president was taken to the hospital with chest pains.
A Georgia grand jury has indicted both a father and son in a mass shooting at Apalachee High School in Winder.
Federal cabinet ministers Filomena Tassi, Carla Qualtrough, and Dan Vandal announced Thursday they will not run for re-election. Senior government sources tell Â鶹´«Ã½ at least one other – Marie-Claude Bibeau – doesn't plan to run again, setting the stage for Justin Trudeau to shuffle his cabinet in the coming weeks.
NDP Leader Jagmeet Singh says it's very disturbing that Conservative Leader Pierre Poilievre won't get the top-level security clearance needed to view classified documents on foreign interference.
The representative plaintiffs in a class-action lawsuit against Canada are urging First Nations chiefs to accept a landmark $47.8-billion child welfare reform deal.
Patients who are older, don’t speak English, and don’t have a high school education are more likely to experience harm during a hospital stay in Canada, according to new research.
Health Canada released an advisory Wednesday warning that baby walkers available online may pose a risk of injury and reminding consumers the items are already banned in Canada.
Coca-Cola has recalled more than 13,000 cases of Minute Maid Zero Sugar Lemonade because the mislabelled cartons actually contained the full-sugar version of the drink, according to a report from the U.S. Food and Drug Administration.
Just weeks before the U.S. presidential election, TikTok approved advertisements that contained election disinformation even though it has a ban on political ads, according to a report published Thursday by the nonprofit Global Witness.
At the heart of the ancient city of Petra, Jordan, carved into pink sandstone cliffs, lies an elaborate monument known as the Khaznah, or the Treasury. And buried beneath that edifice, archeologists recently discovered, is a tomb with at least 12 human skeletons and artifacts that are estimated to be at least 2,000 years old.
Expect to see more northern lights in unusual places as the sun continues to sizzle, space weather forecasters said Tuesday.
The former members of English boy band One Direction reacted publicly to the sudden death of their bandmate, Liam Payne, for the first time on Thursday, saying in a joint statement that they're 'completely devastated.'
Mitzi Gaynor, the effervescent dancer and actor who starred as Nellie Forbush in the 1958 film of 'South Pacific' and appeared in other musicals with Bing Crosby, Frank Sinatra and Gene Kelly, has died. She was 93.
Shane Gross, a Canadian marine conservation photojournalist, has won the title of Wildlife Photographer of the Year.
Meta says it has laid off some employees, including staff at WhatsApp And Instagram, to realign its resources with its “strategic goals.â€
Netflix on Thursday reported that its subscriber growth slowed dramatically during the summer, a sign the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off.
Dozens of people rallied outside the Michigan headquarters of WK Kellogg Co. Tuesday, demanding that the company remove artificial dyes from its breakfast cereals in the U.S.
According to Google search data, the top Halloween costumes trending in Canada include everything from Taylor Swift for kids to the Joker and Harley Quinn for couples.
Experts weigh in on 'moon face', a condition social media users say is swelling in parts of the face caused by the stress hormone cortisol.
Luxury fashion house Prada and commercial space company Axiom Space have unveiled the designs for a spacesuit that will be worn for NASA’s Artemis III moon mission.
The Ontario Hockey League (OHL) has released a statement in response to a recent CTV W5 investigation into an alleged sexual assault in 2014.
The game against the San Jose Sharks is Hellebuyck Night – a night to recognize Connor Hellebuyck and his success last season winning both the Vezina and William M. Jennings trophies.
Â鶹´«Ã½' Rachel CrowSpreadingWings sat down with legendary Inuk hockey player Jordin Tootoo for an open conversation on his new documentary, Tootoo: The Jordin Tootoo Story. The film takes a look at achievements throughout his hockey career and his struggles with addictions.
Canada’s border guards have seized more than 1,900 stolen cars so far this year at railyards and ports, which is over a hundred more than in 2023.
The Ontario Provincial Police says the number of fatal collisions caused by distracted driving on the roads it patrols has increased by 40 per cent compared to this time last year.
Tesla CEO Elon Musk unveiled on Thursday his vision of a 'a fun, exciting future,' an 'age of abundance' full of his company’s self-driving cars without steering wheels, parking lots turned into parks and robots that will walk among the population – that he once again promised would be available within a few years.
John Cantin vividly remembers opening day for his Victoria diner. Stress levels were high, tables were full, and one of the most popular menu items couldn’t be freed from the unyielding grip of the waffle maker.
A Manitoba professor is warning the public after a book on regional mushrooms that he suspects is AI-generated was delisted from Amazon.
A B.C. judge has issued a decision in a years-long dispute between neighbours that began with a noise complaint over barking dogs, crowing roosters and quacking ducks – awarding $15,000 in damages to the plaintiffs in the case.
An Ottawa man was arrested after taking a shower in a stranger's house, Ottawa police say.
Sḵwx̱wú7mesh Úxwumixw (Squamish Nation) Chef Paul Natrall, the man behind Indigenous food truck Mr. Bannock, is bringing cooking classes on First Nations fare to schools and offices throughout Metro Vancouver.
The Celtic Colours Festival is taking place at venues around Cape Breton Island in Nova Scotia from Oct. 11 to 19.
Sometimes love is written in the stars, but for one couple, it’s written in the aurora borealis.
Canadian hip hop artist Dillan King says running 100 marathons in 100 days was not only the hardest thing he has ever done, but the 'proudest accomplishment' of his entire life.
James Taylor never expected to be walking home with a bag full of groceries he didn't buy.
Mounties in Surrey seized illicit substances and weapons and made more than a dozen arrests during a one-day crackdown on "open air drug traffickers" in the city centre last week.
Animal protection officers in British Columbia say they have seized a dog and will be recommending criminal charges against its owner after it was dragged behind a vehicle in the province's Interior.
Three teenage girls from B.C.'s Lower Mainland have been criminally charged in connection with a pair of violent attacks that took place on transit over the summer.
A Canadian former Olympic snowboarder who is suspected of being the leader of a transnational drug trafficking group that operated in four countries is wanted for allegedly orchestrating the murder of an “innocent†couple in Ontario in 2023, authorities say.
The Ontario Hockey League (OHL) has released a statement in response to a recent CTV W5 investigation into an alleged sexual assault in 2014.
Federal cabinet ministers Filomena Tassi, Carla Qualtrough, and Dan Vandal announced Thursday they will not run for re-election. Senior government sources tell Â鶹´«Ã½ at least one other – Marie-Claude Bibeau – doesn't plan to run again, setting the stage for Justin Trudeau to shuffle his cabinet in the coming weeks.
Three men convicted of helping lead and co-ordinate the border blockade at Coutts, Alta., in 2022 are to be sentenced next year.
Police are investigating after the body of a student was found in a residence at the Southern Alberta Institute of Technology in Calgary.
A Calgary dad is pleading to have his modified 1999 Honda Civic returned after it was stolen by thieves in the community of Legacy over the Thanksgiving long weekend.
Some doctors in Ottawa say the pile of paperwork they're doing every day has been steadily growing as more public service workers seek doctor's notes in order to receive accommodations to work from home.
The Ottawa Police Service is asking the public for help in identifying three suspects involved in an alleged theft and multiple fraud incidents that happened last month in the city's west end.
Environment Canada's senior weather climatologist says Ottawa will see "more of a winter than last year," as it experiences a possible La Nina weather event this year
Double lung transplant recipient, Linda Paradis, is raising awareness of the importance of organ donation, as she now needs a kidney.
Police are investigating a fire at a home in Dorval owned by Emile Benamor, the owner of the two Old Montreal buildings that were allegedly set on fire in the past year, killing nine.
Health Minister Christian Dube walks back on proposition to save family doctors for the most vulnerable after public outrage.
RCMP are looking for witnesses in what they believe was the criminal death of a five-year-old girl at Wabamun Lake on Sunday.
Edmonton education support staff could be heading to the picket lines.
Edmonton police are asking the public for CCTV footage as they investigate two fires that appear to have been deliberately set as part of an extortion scheme.
A profane anti-Israel message on a digital billboard in Moncton, N.B., has been turned off, but the question of how it got there in the first place remains.
The Nova Scotia government is adding new specialized staff to schools to help prevent and address violence.
All three of New Brunswick’s main party leaders returned to the campaign trail Thursday following CTV Atlantic's roundtable discussion Wednesday night.
A 52-year-old man has been charged after six bison were killed in an illegal hunt on a Manitoba farm.
Over the past several years, the Winnipeg has been the backdrop for dozens of Hallmark holiday movies and this year several more are being added to the growing list of feel-good, seasonal films that are Manitoba-shot.
A Winnipeg MP is among several cabinet ministers not seeking re-election.
Saskatchewan Party Leader Scott Moe announced Thursday that if re-elected his party's 'first order of business' would be to introduce a policy that would ban 'biological males' from changing with 'biological females' in school changerooms.
STARS Air Ambulance and Craik RCMP were called to a serious collision on Highway 2 west of Chamberlain, Sask. on Thursday afternoon.
As the provincial election draws near, one group of advocates in Regina hosted a news conference and question and answer period, which highlighted substantial gaps in the province's policies regarding poverty.
Trustees with an Ontario school board are responding to criticism over a $45,000 trip to Italy, where they purchased more than $100,000 worth of religious statues.
A Canadian former Olympic snowboarder who is suspected of being the leader of a transnational drug trafficking group that operated in four countries is wanted for allegedly orchestrating the murder of an “innocent†couple in Ontario in 2023, authorities say.
A paracyclist has returned to Waterloo Region after touring war-torn Ukraine to raise awareness for amputees.
Saskatchewan Party Leader Scott Moe announced Thursday that if re-elected his party's 'first order of business' would be to introduce a policy that would ban 'biological males' from changing with 'biological females' in school changerooms.
The U17 Saskatoon Alliance won their provincial soccer league title, earning them a spot at nationals. But just to survive nationals is a grueling experience.
The Pierceland RCMP is investigating a sudden death in a community near Mudie Lake, Saskatchewan.
A Canadian former Olympic snowboarder who is suspected of being the leader of a transnational drug trafficking group that operated in four countries is wanted for allegedly orchestrating the murder of an “innocent†couple in Ontario in 2023, authorities say.
A Quebec-based company that supplies hydro turbines and generators has been fined $80,000 after a millwright was critically injured at a job site last year in Iron Bridge, Ont.
An intoxicated person living on Highway 17 in Spragge, Ont., has been arrested for making repeated false 911 calls in a span of several hours Oct. 11.
OPP have closed a section of road in Middlesex County following a crash.
A Nova Scotia man crossing Canada on foot is passing through southwestern Ontario. Trevor Redmond is perhaps better known as the ‘Fellow in Yellow.’
On October 21, 2024, a nationwide rally will take place to raise awareness and advocate for the end of violence toward women and children.
An Orillia man has been arrested four months after a collision on Highway 12 in Ramara Township that police say claimed the life of a senior.
Provincial police are investigating the alleged theft of a classic car from an address in the Town of Mono.
Two roads in Bradford West Gwillimbury will close for nearly two months as part of a $17.4 million project to reconstruct and rehabilitate local roads.
Windsor police are investigating shots fired in a quiet east Riverside neighbourhood.
Closing arguments are complete in a careless driving trial in Chatham.
The former members of English boy band One Direction reacted publicly to the sudden death of their bandmate, Liam Payne, for the first time on Thursday, saying in a joint statement that they're 'completely devastated.'
John Cantin vividly remembers opening day for his Victoria diner. Stress levels were high, tables were full, and one of the most popular menu items couldn’t be freed from the unyielding grip of the waffle maker.
Animal protection officers in British Columbia say they have seized a dog and will be recommending criminal charges against its owner after it was dragged behind a vehicle in the province's Interior.
Elections BC says a record number of British Columbians have already cast their ballots in advance voting before Saturday's provincial election.
Dave Lindsey began growing giant pumpkins to bring a bit of magic to his grandkids' Halloween.
A U.S. District Court judge in Montana has sentenced a 27-year-old man from Kelowna, B.C., to 18 months in prison for using fake names to buy guns with the aim of selling them in Canada.
Nearly two years after a man was stabbed to death in downtown Kelowna, RCMP have made an arrest in the case.
Three men convicted of helping lead and co-ordinate the border blockade at Coutts, Alta., in 2022 are to be sentenced next year.
With the growing season wrapping up for many, southern Alberta's sweetest crop is in full swing.
Health-care advocates say the province's plan for a new primary care agency, operating separately from Alberta Health Services, won't help with doctor shortages in Lethbridge.
A Quebec-based company that supplies hydro turbines and generators has been fined $80,000 after a millwright was critically injured at a job site last year in Iron Bridge, Ont.
A physician shortage is again forcing the closure of the emergency department at the Thessalon Site of the North Shore Health Network.
A 21-year-old who was already on probation has been charged after an armed intruder entered a victim's home early in the morning Oct. 11 in the Town of Spanish.
A five-hour drive from St. John's, N.L., and well off the beaten path, Point Leamington seems an unlikely spot for a one-of-a-kind tourist attraction.
A Conservative MP from Newfoundland and Labrador says some small towns in his rural riding are overrun with crime, but police say they haven't received reports to that effect.
As millions in federal funding flow into a Labrador group whose claims of Inuit identity have been rejected by Indigenous organizations across Canada, a national Inuit leader worries the Liberal government is putting the rights of Indigenous Peoples at risk.
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