The streaming giant said it added 9.3 million subscribers in the first three months of the year.

Netflix says its profits have soared in the first three months of this year, partly thanks to a crackdown on password sharing.

The streaming giant said it added 9.3 million customers in the first quarter, bringing its total number of subscribers to almost 270 million.

The company also said its profits in the first quarter jumped to more than $2.3bn (£1.85bn).

But the firm will stop reporting key subscriber numbers from next year.

…

Some investors saw its unexpected decision to stop reporting subscriber numbers as a sign that Netflix’s wave of customer growth may be coming to an end.

Simon Gallagher, a former Netflix director and now principal of entertainment investment firm SPG Global, told the BBC’s Today programme that while the numbers indicated a “very, very strong performance” this might not last.

  • oxjox@lemmy.mlEnglish
    227·
    8 months ago

    LOL I was in arguments with a number of angry internet people who were vehemently screaming how this would be the death of Netflix. They seriously thought that all the people who were getting free passwords would simply not subscribe to Netflix. To which I responded, then they wouldn’t lose a single subscriber. And then I saw more than a few people actually say that subscribers who were sharing their passwords would stop subscribing to Netflix because they weren’t able to share their passwords. Just an example of how your personal feelings about something can skew your observance of a reality.

    Now, why people are choosing to subscribe to Netflix at all is something I genuinely don’t understand. I’ll pay for a month of it every 12-18 months and get bored searching for something to watch within a couple days.

    I’m interested to see how the younger TikTok generation transitions to commercial programming. I would think some portion of the demographic isn’t going to want to sit own for 30-90 minutes to watch wide-screen television. Just as we transition from over-the-air to cable to streaming, I wonder what will come next. “TikFlix”?

    • blargerer@kbin.social
      1·
      8 months ago

      I used to subscribe inconsistently when there was something I wanted to watch. Then I started sharing with my family so I kept the subscription up at a higher price constantly because I didn’t know when they were using it or not. I’ve since gone back to only subscribing at a lower price when I want to watch something. I honestly thought way more people would be in this situation.

    • KingBoo@lemmy.world
      45·
      8 months ago

      “TikFlix”?

      We’re actually there. Go on YouTube and you’ll see entire movies condensed into tokable sized chunks. This is how Z watches movies now, and it will only get worse.

      Songs are becoming shorter and shorter, to hopefully create a tiktok trend.

      • LustyArgonian@lemmy.worldEnglish
        32·
        8 months ago

        Most modern movies are pointless fluff anyway. I don’t need to watch 20minutes of fighting and explosions, I really don’t. Or even more stereotypical, boring one liners, jokes, and banter. Not to mention the movies with the exact same emotional motivations - the superhero movies. Miss me with the war propaganda and reactionary bullshit. And that’s what most movies are about these days. Internet is killing Hollywood because Hollywood has always been fluff and not that good.