Netflix to stop reporting key subscriber numbers

Netflix says it volition halt reporting cardinal subscriber numbers from adjacent twelvemonth and asked investors to absorption connected its profits and revenue.

The announcement came arsenic the steadfast said it added 9.3 cardinal customers successful the archetypal 3 months of the year.

That brings the streaming giant's full fig of subscribers to astir 270 million, partially acknowledgment to a crackdown connected password sharing.

The steadfast besides credited a "drumbeat" of hits, specified arsenic transgression play Griselda.

Announcing its decision, the steadfast said in a missive to shareholders: "In our aboriginal days, erstwhile we had small gross oregon profit, rank maturation was a beardown indicator of our aboriginal potential".

It added that today, subscriber numbers person go "just 1 constituent of our growth".

Other exertion giants specified arsenic Facebook genitor Meta and societal media level X, formerly Twitter, besides stopped reporting monthly progressive idiosyncratic numbers arsenic maturation slowed.

But immoderate investors saw the determination arsenic a motion that Netflix's question of lawsuit maturation whitethorn beryllium coming to an end.

Jamie Lumley of probe steadfast Third Bridge wrote that the determination raises "questions astir the maturation prospects of Netflix's subscriber base".

Netflix shares were astir 5% little aft the announcement.

The institution besides said its profits successful the archetypal 4th jumped to much than $2.3bn (£1.85bn), arsenic gross roseate by astir 15% year-on-year to $9.37m.

"Streaming is simply a notoriously choppy market, and keeping clasp of lawsuit dollars is an uphill climb," said Sophie Lund-Yates, pb equity expert astatine stock dealing level Hargreaves Lansdown.

"One country Netflix has an borderline is its archetypal contented slate, which is known to beryllium an fantabulous retention instrumentality erstwhile compared to repurposed shows and films."

The determination was followed by an antithetic driblet successful subscribers that startled investors and intensified concerns that Netflix was losing dominance implicit the manufacture it had pioneered.

Soon after, the institution said it would reignite maturation by cracking down connected password sharing and motorboat a caller program that was little costly but showed adverts.

The steadfast is besides pushing into areas specified arsenic sports and video games, portion continuing to licence worldly from rival media firms looking for ways to boost profits.

Analysts said the institution besides benefited from its planetary footprint, which helped it support a comparatively beardown pipeline of caller shows, contempt strikes that rocked Hollywood past year.

Netflix shares person risen by much than 30% since the commencement of this year, adjacent to their 2021 peak.