Netflix’s Sarandos has no time for legacy bundles
October 18, 2024 11.45 Europe/London By Julian Clover


Streaming juggernaut Netflix added 5.07 million new subscribers in the summer quarter, reaching 84.80 million.

Total revenues of $4,322 million grew by 15% year over a year.

Revenue in EMEA grew 16% year over year, consistent with the increase in average paid subscriptions that now stand at 96.13 million.

It comes as Co-CEO, President & Director Ted Sarandos dismissed prospects that Netflix might enter into a bundling pact with its rivals. “It’s a comfortable business model for legacy media companies. And kind of given the narrow scope of the libraries on these services and the fairly limited engagement, it makes sense for them to kind of replicate some of the older media models of kind of creating these bundles,” he told an investor call.

Sarandos said Netflix was concentrating on adding value to its own package, including the Tyson-Paul fight, NFL football on Christmas Day and the WWE.

The two-year old advertising plans now account for 50% of sign-ups where it is available and overall the ads plan grew by 35% quarter-on-quarter.

Netflix says that it is pleased with subscriber engagement on its ads plan that is in line with engagement on its standard plan in the 12 countries where it is available.