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Netflix: Profits soar after password sharing crackdown (www.bbc.com)

submitted 8 months ago by MicroWave to c/news

59 comments fedilink hide all child comments

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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[–] [email protected] 2 points 8 months ago

Ya I went to the seas instead. I'm glad to have not contributed to that rising profit, even if it only means a little.