Netflix wins subscribers as ad strategy pays off [Video]

Netflix on Thursday said it added eight million new subscribers in the second quarter, as the home of hit shows “The Crown” and “Bridgerton” posted its latest financial earnings that exceeded analyst expectations.

The world’s leading streaming video service said it ended the April-to-June period with a total of 277.7 million subscribers, as net profit dipped to $2.1 billion, but revenue surged to $9.6 billion.

The latest numbers rewarded Netflix’s moves to boost revenue after a rough patch in 2022.

In a bid to boost sputtering growth, the company launched an ad-subsidized offering last year around the same time as a crackdown on sharing passwords.

As part of that effort, Netflix also got rid of its cheapest commercial-free plan in the UK and Canada, with expectations of further expansions.

In the United States, the company is also beginning to offer some users combined packages with its one-time rivals, making itself …