Netflix is staying clear of the upheaval in the corners of the media industry.

• Netflix experienced a growth of over 8 million subscribers in the second quarter, bringing its total global customer base to more than 277 million.
• The company highlighted its content to capture market share from the conventional TV industry, excluding YouTube.
• While smaller competitors Paramount Global and Warner Bros. Discovery struggle with significant changes, Netflix remains focused on maintaining the current state of affairs.

The second-quarter earnings report was uneventful, which was satisfactory for the company and its investors.

Recently, Skydance Media has agreed to merge with, and there is a possibility that may lose its broadcast rights to the NBA.

Despite changes in the media and entertainment industry, Netflix remains content with its current position as the world's largest streamer.

"Netflix believes that if it executes well, it can achieve better stories, easier discovery, and more fandom while expanding into new areas such as live, games, and advertising. By delighting people with its entertainment, Netflix can drive higher engagement, revenue, and profit than its competitors. This, in turn, will make Netflix a more loved and valued entertainment company for its members, creators, and shareholders, which can be strengthened and grown over time."

Netflix categorized the streaming, pay TV, film, gaming, and branded advertising market as a $600 billion industry, with the company contributing approximately 6% to that total annual sales.

Netflix's market valuation as of Thursday's market close is $277 billion, and it now has more than 277 million global customers, making it the largest subscription streaming service in the world. In the quarter, the streamer added more than 8 million subscribers.

Netflix is the second most-watched streaming service in the U.S., behind only YouTube. However, instead of being concerned about competition, the company is focusing on the remaining 80% of the TV market.

The company stated that their biggest opportunity in the future is capturing a larger portion of the 80%+ of TV time, which is currently dominated by Netflix and YouTube.

In May, Warner and Disney announced a discounted cross-company bundle that includes Max with their streaming services, but Netflix stated that they have no need to compete.

"Netflix has not bundled its service with other streamers like Disney+ or Max because it already has a strong reputation as a go-to destination for entertainment due to its extensive and diverse content library and exceptional user experience. This has resulted in high levels of industry-leading penetration, engagement, and retention for Netflix, limiting the potential benefits of directly bundling with other services."

Netflix continues to prioritize developing its advertising industry and attracting more streaming subscribers through its strong content.

The new sentence is: "The rewritten content is not the most dramatic of narratives and may not make for a great Netflix series."

But as an investment, shareholders will happily take it.

WATCH: Netflix has major beat on Q2 subscribers