Netflix beats estimates as ad-supported memberships rise 34%
Advertising has become an increasingly important business model for media companies to boost — or in some cases, achieve — profitability for streaming.
Netflix reported second-quarter earnings Thursday that showcased the media giant's position at the head of the streaming race as it added more global subscribers and saw strong growth in its advertising business.
The streamer said its ad-supported memberships grew 34% during the period compared to the same quarter last year.