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.

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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.

  • penquin@lemm.ee
    6·
    7 months ago

    What’s next for the next quarter’s profits? I mean your shareholders are not just gonna stop there. It’s an infinite money pit, right?

    • anarchrist@lemmy.dbzer0.com
      6·
      7 months ago

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

      They’re going to pretend user attrition isn’t happening as new subs burn out on content and the old “family” accounts recalculate the value of their subscriptions and start dropping or juggling netflix.