Netflix will drop subscriber number reporting
Netflix added 9.33 million subscribers in Q1 2024, reaching nearly 270 million. The company will stop reporting subscriber numbers in 2025, focusing on revenue and cash flow metrics instead.
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Netflix reported a significant increase in subscribers, adding 9.33 million in the first quarter of 2024, bringing its total to approximately 270 million. The company achieved a quarterly operating income of $2.6 billion, marking a 54% increase year-over-year. Starting in 2025, Netflix will cease reporting quarterly subscriber numbers and average revenue, opting instead to focus on revenue and free cash flow metrics. The company currently has 269.60 million subscribers, with notable growth across various regions, including 2.53 million in the U.S. and Canada, and 2.92 million in EMEA. Despite the growth, Netflix has stopped providing subscriber forecasts, acknowledging that future gains may not match the first quarter's performance. Netflix remains the market leader in streaming, although competitors like Amazon Prime Video and Disney+ are also significant players. The company is also exploring live programming opportunities, aiming to create shared viewing experiences that resonate with audiences. Netflix's free cash flow reached $2.14 billion in the first quarter, with a forecast of around $6 billion for the year, despite carrying over $13 billion in long-term debt.
- Netflix added 9.33 million subscribers in Q1 2024, reaching nearly 270 million total.
- The company will stop reporting quarterly subscriber numbers from 2025, focusing on revenue and cash flow instead.
- Netflix's operating income rose to $2.6 billion, a 54% increase from the previous year.
- The streaming service continues to lead the market despite competition from Amazon and Disney+.
- Netflix is developing live programming to enhance shared viewing experiences.
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