Netflix released its latest financial report yesterday (April 18), revealing a significant increase in new subscribers of 9.33 million in the first quarter of 2024.
This 16% increase brings the number of global subscribers to nearly 270 million as of March 31st. However, this sharing of subscriber data has reached its limits. Starting next year, Netflix will no longer report these numbers as part of its quarterly earnings report, opting instead to reveal membership growth milestones from time to time.
While subscriber data was a good indicator of growth during the streamer’s early stages of formation (when profits and revenue were minimal), Netflix has now shifted its focus to revenue and operating profit as its “key financials.” I feel that we have reached a stage where we can have “metrics” to measure success.
We’ll also continue to look at engagement (the amount of time people spend on the platform). this is, Semi-annual data dump It was announced in December. “Fandom is the root of strong and lasting engagement,” the streamer said in its first-quarter earnings report. “That’s why all of our products and marketing are designed to inspire fandom by helping members find their next obsession.”
In this latest fiscal period, Netflix reported revenue of US$9.3 billion (up 15% compared to Q1 2023) and profit of US$2.3 billion (up 54%).
The company attributed this growth to “new revenue streams” such as cheaper AVOD tiers and paid add-on membership features introduced as part of last year’s password-sharing crackdown.
Regionally, EMEA added 2.92 million contracts in the quarter, followed by the US/Canada (2.53 million), APAC (2.16 million) and Latin America (1.72 million).
Among the top-performing new titles in Q1, Netflix featured live-action series Avatar: The Last Airbender (Photo) has been viewed 63.8 million times since its release on February 22nd. PG-13 as in a feature film. maiden Since its release on March 8, it has been viewed more than 120 million times.A new movie boss also appears Dan Lin Onboard, recently also streamers reorganized the film team Introducing a new system by genre.
Image courtesy of Robert Falconer/Netflix
