Netflix Sees 'Shockingly Strong' Retention, Subscriber Comeback In Q2 As WWE Stickiness, 'Squid Game' And Ad-Tier Drives Momentum, Analyst Says

Streaming giant Netflix Inc. (NASDAQ:NFLX) is seeing renewed strength in subscriber engagement, according to a leading analyst covering the stock.

Check out the current price of NFLX stock here.

What Happened: On Thursday, Alicia Reese, Vice President of equity research at Wedbush Securities, said the company’s retention was “shockingly strong” for the second quarter, while speaking on Bloomberg TV, noting that “quite a few people that came back to the service that had churned out over the last quarter.”

She further notes that despite the recent price hikes, particularly in the “Premium Tier,” user stickiness remains high, which is attributed to the new ad-supported tier, allowing users to downgrade their plans instead of canceling outright.

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Content was cited as a major reason subscribers returned, with the analyst pointing to the recovery in programming volumes following the disruptions caused by last year's ...