Almost half of new Netflix signups opt for ad-supported option

July 22, 2024 2:09

Netflix has reported a strong Q2 2024, with 17% revenue growth, and “steady” progress on its ads business.

Its revenue growth was driven primarily by an increase in average paid memberships, up 16% from the same period last year. Average revenue per membership (ARM) was up 1% year-on-year.

Operating income for Q2 amounted to US$2.6 billion, up 42% from Q2 last year. The streaming platform had an operating margin of 27.2%, up five percentage points on last year’s 22.3%.

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Lauren McNamara

Lauren McNamara is a freelance journalist. She previously spent three years at Mumbrella, most recently as the associate editor. She left her staff role in August 2025.