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Streaming Services Report Record Profits in Q3

Streaming services such as Netflix, Amazon Prime Video, and Disney+ have reported record profits in the third quarter of this year. Despite challenges posed by the ongoing pandemic, these platforms have seen an increase in subscribers and revenue.

According to reports, Netflix added over 2.2 million new subscribers in Q3, bringing their total global subscriber count to over 195 million. This surge in subscribers has led to an increase in revenue, with the company seeing a 22.7% growth in their streaming revenue compared to the same quarter last year.

Similarly, Amazon Prime Video experienced a 28% increase in revenue in Q3, with the platform benefiting from a rise in online shopping and streaming services during the pandemic. Disney+ also saw significant growth, with the platform reaching over 73 million subscribers worldwide since its launch in November 2019.

The success of these streaming platforms can be attributed to the diverse range of content they offer, including original series, movies, and exclusive titles. With the demand for at-home entertainment on the rise, it’s no surprise that streaming services are thriving in the current market.

Overall, the third quarter of 2020 has proven to be a lucrative period for streaming services, highlighting the growing popularity and profitability of the industry. As more people turn to streaming platforms for their entertainment needs, the future looks bright for the world of online content.