Netflix to stop reporting key subscriber numbers
By Mariko Oi & Natalie Sherman
Netflix says it will stop reporting key subscriber numbers from next year and asked investors to focus on its profits and revenue.
The announcement came as the firm said it added 9.3 million customers in the first three months of the year.
That brings the streaming giant’s total number of subscribers to almost 270 million, partly thanks to a crackdown on password sharing.
The firm also credited a “drumbeat” of hits, such as crime drama Griselda.
Announcing its decision, the firm said in a letter to shareholders: “In our early days, when we had little revenue or profit, membership growth was a strong indicator of our future potential”.
It added that today, subscriber numbers have become “just one component of our growth”.
Other technology giants such as Facebook parent Meta and social media platform X, formerly Twitter, also stopped reporting monthly active user numbers as growth slowed.
But some investors saw the move as a sign that Netflix’s wave of customer growth may be coming to an end.
