Hastings stands down as Netflix hits to 230 million subscribers
United States streaming giant Netflix, no doubt is smiling to the bank as 2022 ended with more than 230 million global subscribers, beating analysts’ expectations as hits such as “Wednesday” and “Harry & Meghan” enticed new viewers.
Netflix also announced that its co-founder Reed Hastings would resign as the Chief Executive Officer, ending a 25-year leadership that saw the company grow from a rent-by-mail DVD service to an entertainment juggernaut.
“2022 was a tough year, with a bumpy start but a brighter finish,” the company said in a letter announcing bumper fourth-quarter earnings.
Netflix, Inc. is an American subscription video on-demand over-the-top streaming service and production company based in Los Gatos, California.
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