Streaming giant Netflix has successfully plugged its trend of losing subscribers, after struggling to keep them in the face of competition.

Netflix added 2.4 million subscribers during the July to September period, reversing the losses suffered in the first half of the year.

Popular shows such as Stranger Things and Monster: The Jeffrey Dahmer Story are said to have helped draw viewers back after the business raised its prices earlier in the year.

In a short statement to investors, Netflix said: "After a challenging first half, we believe we're on a path to reaccelerate growth."

It said it expected to continue adding subscribers in the coming months and will also be launching a less expensive option with adverts next month.

Netflix currently covers more than eight per cent of all video viewing time in the UK, but the business still faces fierce competition from the likes of YouTube, Amazon and Disney.