Netflix Will Stop Reporting Subscriber Numbers Starting in 2025
variety.comTodd Spangler NY Digital Editor Netflix will no longer report subscriber numbers — which has been a key metric for streaming services for years — beginning with the first quarter of 2025.
The company made the announcement in releasing its first-quarter 2024 earnings Thursday. Netflix handily topped expectations for subscribers net adds, gaining 9.33 million in the period, to reach nearly 270 million globally.
It also beat Wall Street expectations on the top and bottom lines. Despite the Q1 earnings beat, Netflix shares dropped more than 3% in after-hours trading Thursday, possibly as investors reacted negatively to the news that the streamer will stop reporting quarterly sub totals.
In its Q1 letter to shareholders, Netflix said that engagement — time spent with the service — is its “best proxy for customer satisfaction.” As such, it will no longer report quarterly membership numbers or average revenue per member (which it dubs “ARM”), as of Q1 2025.
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