“Netflix said on Thursday that it added another five million subscribers in the most recent quarter, helping to lift revenue to $9.8 billion during the period, a 15 percent increase from the same period last year.
The company now has 282.7 million subscribers globally, far outpacing its competitors in streaming. Net income in the quarter rose to $2.3 billion.”
Was anyone expecting this news? That’s an amazing set of figures.
But, here’s an interesting part of the news:
“The company plans to stop releasing quarterly information about total subscriber counts beginning next year but will unveil major subscriber milestones when it reaches them.”
No doubt, the conspiracy stories begin. What are they trying to hide, is the first one that comes to mind.
But what does it mean for the other streamers?
https://www.nytimes.com/2024/10/17/business/media/netflix-quarterly-repo...
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Was not releasing subscription numbers by streamers part of the Writer's strike deal or am I mistaken? Or was nothing said about when they would release them?
I wasn't expecting this news, but I'm not surprised by it, Geoff Hall. Netflix has been releasing more and more incredible movies. I watched Don't Move last night. Wow, it's incredible! REALLY intense!
“The company plans to stop releasing quarterly information about total subscriber counts beginning next year but will unveil major subscriber milestones when it reaches them.” I wonder if that means Netflix is going to stop releasing the info to the public or screenwriters, directors, etc. because like David C. Velasco mentioned, releasing subscription numbers is part of the Writer's strike deal. I'm not sure if streamers have to release that info quarterly, yearly, etc. though.
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David C. Velasco hi David, I thought that the figures the writers were interested in were the hours or amount of times a film or episode was watched? Not subscribers per se, as this wouldn’t affect any bonuses or residual payments.
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I think you're right, Geoff Hall. I got the two mixed up.