Well they'd have to lose a huge percentage of people for this not to be profitable quarter over quarter. But it likely cuts in to future growth substantially.
And with what seems to now be an unavoidable economic storm as in-transit tankers dock and the closure of the Strait of Hormuz starts to be felt, there might be a larger than normal amount of people looking to cut costs in the coming year.
Or maybe not, people seem to have stopped responding to economic pressure by cutting costs in the US! When vacations got super expensive, people still spent, and increased their complaining. We will see what happens in 2026.
Netflix, cable, etc. and other at home subscriptions tend to be the last things cut because people generally stay home more when the economy is bad so they want their in-home entertainment.
Netflix is more resilient to economic downturns than you'd think. For many people it's a higher ROI for entertainment when compared to a lot of other alternatives. e.g going to bars / restaurants / movie theaters.