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Netflix's Q2 2025 earnings results came in at $11.1 billion in total revenues. The company鈥檚 shift away from reporting net subscriber growth now places investor focus squarely on margins, ad performance, and global monetization. While churn remains low and its brand strong, Netflix faces growing competition from YouTube and TikTok for user screen time. With hit content, live sports, and gaming on deck, the streaming giant鈥檚 next act will test its ability to monetize an already massive user base while retaining cultural dominance. For Netflix, growth now means doing more with what it already has.

By comparison, Netflix recently said it has 70 million global monthly ad-supported viewers, and Disney CEO Bob Iger let slip that 37% of its US Disney+ subscribers and 30% worldwide use its ad-supported tier. Amazon鈥檚 entry into the market significantly lowered streaming CPMs (the cost to reach 1,000 viewers).

Being the original subscription video-on-demand (SVOD) service has given Netflix the advantage of familiarity over its global rivals. In Australia, for example, Netflix accounted for 30% of SVOD subscribers, but half of the country鈥檚 streaming minutes, according to Media Partners Asia (MPA).

In Mexico, for example, Claro video鈥檚 share of SVOD subscribers fell from 14.6% in Q3 2018 to 2.8% in Q2 2022, according to data from The Competitive Intelligence Unit. Globoplay looks beyond Brazil to find new subscriber growth. Like others, it has also faced an uphill battle in attracting new users to its streaming platform.

Paramount鈥檚 Q3 results reflect strong streaming growth: To attain 3.5 million new subscribers and $49 million in DTC profit, it鈥檚 leveraged cost cutting and content innovation to balance revenue pressures from traditional TV.

Netflix exceeds Q1 forecasts with strong earnings and subscriber growth: Shifts reporting focus from subscriber numbers to revenue and engagement starting 2025.

Netflix tallies its ad-supported subscriber count ahead of Upfronts: A survey shows it could have 22 million US subscribers as it enters an Upfront period rife with competition.

YouTube Premium hits a subscription landmark: The service now enjoys 100 million subscribers after YouTube spent much of 2023 cracking down on ad blockers.

Ad-supported streaming and live sports are accelerating pay TV鈥檚 decline: The largest pay TV providers lost 5 million subscribers in 2023, while SVOD鈥檚 market share grew.

Eight in 10 US Amazon Prime Video subscribers will be ad-supported this year, according to our February 2024 forecast.