Netflix makes a big announcement.
In reporting its first quarter earnings for 2024, Netflix announced that they will stop reporting subscriber numbers starting in 2025. Netflix will announce "major subscriber milestones" as they happen, but won't disclose quarterly subscriber numbers.
“As we’ve noted in previous letters, we’re focused on revenue and operating margin as our primary financial metrics — and engagement (i.e. time spent) as our best proxy for customer satisfaction. In our early days, when we had little revenue or profit, membership growth was a strong indicator of our future potential,” Netflix said in the letter to shareholders. “But now we’re generating very substantial profit and free cash flow (FCF). We are also developing new revenue streams like advertising and our extra member feature, so memberships are just one component of our growth.
"In addition, as we’ve evolved our pricing and plans from a single to multiple tiers with different price points depending on the country, each incremental paid membership has a very different business impact. It’s why we stopped providing quarterly paid membership guidance in 2023 and, starting next year with our Q1’25 earnings, we will stop reporting quarterly membership numbers and ARM.”
WWE Raw will move to Netflix beginning in January 2025.
Fans can find Triple H's comments on Raw moving to Netflix by clicking here.
