Netflixreported its second-quarter earnings Thursday, adding 8 million subscribers and expanding its lead as subscription streaming TVs dominant platform.

The company now has 277 million global subscribers. The company said last quarter that itwill stop reportingsubscriber numbers and average revenue per member beginning in the first quarter of 2025.

Netflix reported revenue of $9.56 billion and operating income of $2.6 billion, both up substantially from a year earlier. The company bested Wall Street expectations, but saw its share price slump after hours as it predicted slower growth moving forward, as its paid-sharing efforts begin to deliver diminishing returns. The company also revealed in its shareholder letter that it was working on designing a new TV homepage, what they are calling our biggest update in a decade.

This new interface provides more visible title information at a glance including synopsis, genre and ratings, the company wrote. Title previews are also larger and more dynamic, with more immersive trailers and bigger box art to make browsing easier. Weve also simplified the navigation bar and moved it to the top of the page to create quicker, easier short cuts. And this new design includes My Netflix, which has everything members have saved or watched and was previously only available on mobile.

And as usual Netflix executives had a few words about the competition. The company noted that, according to Nielsens Guage, it and YouTube are really the only scaled players in streaming video, with each having more viewing minutes than Prime Video, Hulu and Disney+ combined.

The challenge for so many of our competitors is that while they are investing heavily in premium content, its generating relatively small viewing on their streaming services and linear continues to decline, the company notes. So going forward, we believe our biggest opportunity is winning a larger share of the 80%+ of TV time (primarily linear and streaming) that neither Netflix nor YouTube has today.

One thing that it will not be doing, however, is launching a streaming bundle directly with one of its video competitors. In a section titled partnerships, Netflix noted that while it is happy to partner with mobile providers, pay-TV operators and device manufacturers on offerings and packages, we havent bundled Netflix solely with other streamers like Disney+ or Max because Netflix already operates as a go-to destination for entertainment thanks to the breadth and variety of our slate and superior product experience.

This has driven industry leading penetration, engagement and retention for us, which limits the benefit to Netflix of bundling directly with other streamers, it continued.

More to come.