Netflix Attracted 9.3 Million New Subscribers in Q1; X Loses Another Major Ad Partner; TikTok Launches Notes Amid Legal Troubles

by Aimee Newell Tarín on 22nd Apr 2024 in News

On today’s news digest: Netflix Attracted 9.3 Million New Subscribers in Q1; X Loses Another Major Ad Partner; TikTok Notes Photo App Available in Australia and Canada

The introduction of Netflix’s ad-supported streaming plans helped attract 9.3 million new subscribers, which brought its global total to almost 270 million by the end of March. The streaming giant has now announced it will stop reporting subscriber numbers each quarter – instead, it will provide a quarterly breakdown of revenue by region, revealing subscriber milestones once hitting them. Last quarter, it gave a revenue forecast that missed analyst targets, despite having reported a large number of new customers.

The turbulent times don’t appear to be over yet for X, as it loses another major ad partner. Hyundai is the latest brand to pause its ads on the platform after they appeared alongside antisemitic, pro-Hitler content. Joe Benarroch, head of business operations at X, said they were working with Hyundai’s marketers to put in place further brand safety controls.

Following speculation around its release date, TikTok’s new photo sharing app, TikTok Notes, is now available in Australia and Canada. Notes is a basic photo-sharing app which displays images alongside descriptions, as can already be found on TikTok’s video app, but gathered in their own space. Up to 34 images can be added to a single post, with pictures presented in a side-scrolling carousel layout similar to Instagram. Descriptions are limited to 4,000 characters. TikTok Notes also gives users the option to include titles in their posts. Currently, ByteDance’s legal troubles continue in the US, with TikTok facing a potential ban in the country.