Netflix shows steady growth amid writers and actors strikes

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Netflix is showing steady financial growth amid the ongoing Hollywood labor struggles and an overall slowdown in the media marketplace.

The streamer kicked off the media earnings season by announcing its Q2 financials Wednesday.

The streamer's share price stood at $477.59 after the markets closed, roughly double its value a year ago. The company said it added 5.9 million customers during the second quarter. It now has 238.4 million global paid memberships, and its revenue is $8.2 billion.

"We expect revenue growth to accelerate in the second half of '23 as we start to see the full benefits of paid sharing plus continued steady growth in our ad-supported plan," the company wrote in its report.

Paid sharing refers to the company's crackdown earlier this year on password sharing. It now offers plans that enable account holders to add members outside their households for $7.99 a month.