this post was submitted on 19 Apr 2024
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News

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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.

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[–] SpruceBringsteen 115 points 2 months ago (12 children)

Keep wringing out that sponge for money, it definitely won't rip or tear at some point.

[–] FlyingSquid 13 points 2 months ago (3 children)

What? There aren't an infinite number of potential new users to sign up?

[–] [email protected] 15 points 2 months ago (2 children)

One day the companies will figure out how to charge infinite money for no product or service. Then capitalism will be satisfied and the game will be won.

[–] Sami_Uso 1 points 2 months ago

Kinda just feels like the subscription model honestly

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