LOS ANGELES — Netflix on Thursday (April 18) unexpectedly announced that it will stop reporting subscriber numbers each quarter, a decision seen as a sign that years of customer gains in the streaming wars are coming to an end. Shares of the streaming video pioneer fell after it reported a large batch of new customers in the first quarter but...
Signage at the Netflix booth is seen on the convention floor at Comic-Con International in San Diego, California, US, July 21, 2022.LOS ANGELES — Netflix on Thursday unexpectedly announced that it will stop reporting subscriber numbers each quarter, a decision seen as a sign that years of customer gains in the streaming wars are coming to an end.
"This change is really motivated by wanting to focus on what we see are the key metrics that we think matter most to business," co-Chief Executive Greg Peters said in a post-earnings video. "The movement to no longer disclose quarterly subscriptions from next year will not go down well, more so given growth that the streaming king has seen over the last year," said PP Foresight analyst Paolo Pescatore.
Co-CEO Ted Sarandos said he was "really excited" to share the upcoming slate, which includes new seasons of the period drama Bridgerton, the post-apocalyptic drama Sweet Tooth, and upcoming unscripted events such as a roast of retired NFL quarterback Tom Brady.
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