Netflix closes Studio Blue, a sign that the streaming giant is withdrawing from the gaming industry?

Netflix shares listed in Frankfurt rose 4.5% in early trading on Friday, October 18, 2024.

This achievement was successfully achieved after the streaming service from the United States gained new subscribers in the third quarter – exceeding estimates of 1 million.

According to a Reuters report, quoted Friday (18/10/2024), Netflix recorded 5.1 million new streaming subscribers in the third quarter,

“We expect higher subscriber growth ahead of the holidays as Korean drama “Squid Game” Returns,” Netflix said.

Previously, shares of the company rose 3% in after-hours trading on Thursday, October 17, 2024, after closing the regular trading session at $687.65, down 2%.

On the other hand, Netflix’s performance continues to impress despite facing stiff competition in the streaming market.

JPMorgan analyst Doug Anmuth believes Netflix’s new advertising strategy will be key to its future growth.

Although advertising has not been Netflix’s main focus previously, Anmuth believes that the company has the potential to become a major player in the digital advertising industry.