Netflix subs jump by 9.3 million | LinkedIn (2024)

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1. Dan Goman

   CEO at Ateliere Creative Technologies

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   Anticipations for Netflix Q1 earnings were high, and the #streaming giant delivered. With a strong start to 2024, adding 9 million new subscribers in Q1 (bringing total subs to 270M) and a notable uptick in ad-tier adoption, Netflix continues to prove it’s still the frontrunner in the #streamingwars, with no loss of momentum. Early on, Netflix invested in a modern, cloud native technology infrastructure, which allows it to swiftly adapt to emerging monetization opportunities. This strategic investment is now yielding significant benefits in the rapidly changing content industry.New, original shows like Avatar: The Last Airbender, which quickly topped viewership charts, and the much-anticipated return of Bridgerton, showcase Netflix’s strong content advantage. Its diverse, engaging content not only continues to garner critical acclaim—recently securing multiple award nominations—but also significant audience interest. With the second quarter already underway, its stacked lineup of future releases will only bolster the company’s performance.While Netflix's content continues to receive nominations for industry awards, the streamer has no plans to shift its focus to big-screen blockbusters. Under the stewardship of their new film chief, Dan Lin, the strategy is aimed to reel in spending, prioritizing quality and innovative storytelling over star-studded casts in order to appeal to an array of subscriber interests.Entering the live sports arena, Netflix is making strategic moves by adding #livesports content to its lineup, potentially attracting a different demographic of viewers. Netflix’s deal with WWE, which has a highly engaged and loyal fan base, taps into this established audience, providing them with more reasons to choose or stick with Netflix over other platforms that don't offer wrestling content. One of the more highly anticipated programs, featuring a boxing match between Jake Paul and Mike Tyson, will also be a first for the streamer and could help Netflix capture the "event television" market, which includes live sports and specials that typically draw large audiences in real-time.The pioneer of streaming isn’t alone, however—The Walt Disney Company's Disney+ and Hulu are taking measures to keep up with Netflix, including ad-tier subscriptions, #passwordsharing restrictions, and bundling. Additionally, ESPN, Fox Corporation, and Warner Bros. Discovery, three of the biggest programming players in sports, signed a deal to create one cohesive streaming platform to host all their content, showcasing sports’ continuing growth beyond cable. As we continue to move away from traditional cable and towards streaming, we’ll need to keep an eye on how competitors are battling the giant and staking their claim in the industry. #LITrendingTopics #Streamers #Content #CordCuttinghttps://lnkd.in/gxZVuTDj

   Netflix Adds 9.33 Million Subscribers in Q1, Blowing Past Estimates to Reach Nearly 270 Million Total https://variety.com

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2. Emil Protalinski

   Editor | Writer | Consultant | Storyteller | CCO

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   Streaming's subscriber growth era is over. Netflix will stop reporting subscriber numbers and Average Revenue per Membership from Q1 2025, after announcing subscribers grew 16% YoY to 269.6 million in Q1 2024. Wall Street is going to be pissed, but Netflix knows what it's doing.In its shareholder letter, the company lists three reasons for the change:1. Netflix believes that engagement (i.e. time spent) is "our best proxy for customer satisfaction."2. Netflix now has "new revenue streams like advertising and our extra member feature, so memberships are just one component of our growth."3. Netflix has "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."Translation: We have long expected our subscriber numbers to flatline, so we've been working on a plan to make more money from ads, games, live events, and more.This reminds me of another story earlier this week.Disney reportedly wants to add old-school TV channels to Disney+ that offer continuous episodes from certain genres, like Star Wars or Marvel-branded shows: https://lnkd.in/ghUjT4GuDisney wants to add channels to Disney+ for the same reason Netflix wants to stop reporting subscriber numbers: a strategy shift from growing subscribers to keeping subscribers watching.Streaming services want to increase the amount of time you spend in their apps because they now see advertising as the best avenue for growth.The streaming industry is finally focusing on profitability, which only Netflix has achieved.The knee-jerk reaction is that we’re just reinventing the cable bundle, but I disagree -- you can easily cancel individual streaming services: https://lnkd.in/gHy4ybzWIn late 2022, Netflix reportedly explored letting users subscribe to other streaming services (akin to Amazon's Prime Video Channels) without leaving the Netflix app.The company didn't move forward with the idea (yet?), but you can bet that all streaming services will increasingly be doing everything to keep you in their app.

   Netflix Will Stop Reporting Subscriber Numbers Starting in 2025 https://variety.com

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   Netflix Keeps Raising Prices - Is It Still Worth It?Netflix Statistics and Insights: Analyzing the Impact

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3. Alex Sherman

   Reporter @ CNBC | Media, Sports and Entertainment

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   Netflix announced today it would stop reporting quarterly subscribers beginning in the first quarter of 2025. It’s probably a sign subscriber growth will slow next year from what’s been a remarkable second wave of growth stemming from a global crackdown on password sharing. But it’s also indicative of a maturing company that has healthy revenue, profit and free cash flow growth. Will other legacy media companies follow Netflix’s lead? Or is Netflix unique in its position among streamers? Story here: #netflix #cnbc

   Netflix forces Wall Street to focus on profit and revenue with decision to stop reporting subscriber numbers in 2025 cnbc.com

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4. Albert Fong

   Product Marketing Leader & Advisor

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   Add this chapter to your revenue handbook: "Password Crackdown and Ad-tier Memberships: What Are They Good For?". For Netflix, they've both delivered the streaming giant's strongest first-quarter customer additions since the pandemic, surpassing expectations by adding 9.3 million subscribers in Q1, beating the forecast by nearly double. And like looking for spare change in between sofa cushions, this follows a strong Q4 that had a whopping 13 million net additions.When you consider Netflix's resurgence, it's rather fascinating because the company's strategy has been decidedly anti-customer. Think about it. Implementing revenue initiatives like itscrackdown on password sharingandad-supported tier, in addition to therecent price hikeson certain subscription plans would typically turn off customers especially in a space that suffers high churn rates. Yet, despite all that, the company's new subscriber rate is off the charts.The streaming business is highly competitive...and beyond Netflix, a consistent money loser. We're talking about major players like Disney+, Paramount+, and Warner Bros. Discovery. And throw Big Tech like Apple TV and Amazon Prime Video into the mix, it's a battle royale for dollars and eyeballs. Streaming services walk a tightrope: offering a wide variety of high-quality shows across genres is essential to keep subscribers engaged, but true differentiation comes from exclusive content – both of which are incredibly expensive. For Netflix, its reputation and brand along with its ability to put out a long list of hit series, as well as expanding its offerings into live events and videogaming do just that.For its competitors, the issue is whether they're catching up or falling behind. Given Netflix's current earnings and subscriber numbers, it would seem to be the latter https://lnkd.in/ggHzrzVW #netflix #streaming #subscription #memberships #revenue #recurringrevenue #digitalcontent

   Netflix Password Crackdown Delivers Millions of New Customers wsj.com

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5. Shirley Henry

   VP | Marketing Director | Marketing Advisor | B2C | B2B | Global Brand Management | Subscription Growth | GTM & Product Marketing | Digital & Content Marketing |

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   Netflix outperforms analysts' expectations as its winning strategy on the crackdown of password sharing and the lower priced ad tier reap revenue benefits. The Netflix bounce back continues. #netflix #streaming #originalcontent #subscriptiongrowth #subscribers

   Netflix profits surge as streaming service adds 9.3m subscribers in latest quarter theguardian.com

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6. Lucas Shaw

   Professional Party Pooper

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   Netflix added more than 9 million customers last quarter. A massive beat. It now has 270 million subscribers and more than 500 million total users. It generated a (record) profit of $2.3 billion.And yet, shares in Netflix are down. There are two likely reasons:1/ Investors already expected big numbers. Shares are up 25% this year. The company is valued at about $260 billion.2/ The boost from password sharing is coming to an end sooner rather than later. Netflix is going to stop reporting subscriber numbers next year, which really really sucks.https://lnkd.in/g-b-6t_w

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7. Todd Nicolini

   Manager, Ad Sales Research at The Washington Post

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   New data from Antenna shows a total of 45.5M gross additions and 41.3M cancellations across premium SVOD platforms occurred during Q1 2024. This resulted in net gains of 4.1M new subscribers. The chart below shows Paramount+, Peaco*ck and Netflix accounted for half of gross additions during Q1 2024. The successes of Paramount+ and Peaco*ck in new sign-ups is being attributed to the NFL-specific acquisition moments heavily advertised during the first quarter of 2024. #streaming #streamingvideo #streamingplatforms #svod #premiumsvod #avod #netflix #paramountplus #peaco*ck #hulu #disneyplus #max #appletvplus #subscribers #subscriptioneconomy

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8. Susie Hammill

   Global SVoD Strategy / Founder Mercury Media Group / Producer

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   💥Netflix Q1 results. Eclipsing market expectations - added 9.33 million subscribers for Q1 taking total number of subscribers to 269.60 million. Financial earnings eclipsing market expectations as well. More to come…

   Netflix Adds 9.33 Million Subscribers in Q1, Blowing Past Estimates, to Reach Nearly 270 Million Total https://variety.com

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9. Dan Sheehan, MBA, MSc

   Financial Markets Strategist | PhD Candidate in Business-Finance |MS in Data Analytics | MBA | Former D1 Collegiate Golfer at Augusta University

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   Netflix Q1 Beat, But Stock Slips on Changed Subscriber ReportingNetflix reported impressive Q1 2024 results that exceeded expectations, but the stock is down around 3% after-hours. Here are the key highlights:💰 Earnings: $5.28 per share vs $4.52 expected💸 Revenue: $9.37 billion vs $9.28 billion expected👥 Total Memberships: 269.6 million vs 264.21 million expectedThe streaming giant added 9.3 million new subscribers, blowing past forecasts aided by its ad-supported plans. However, Netflix announced it will stop providing quarterly subscriber numbers and revenue per user metrics going forward.This change signals Netflix recognizing the strong pandemic-driven subscriber tailwinds may be waning. By not reporting these figures, the company avoids being held as strictly accountable to those metrics.Other key points:📺 Hit content like "3 Body Problem" and "Griselda"🔒 Password sharing crackdown paying off💰 New revenue streams from ads and price increases⚽ Expanding into live sports with $5B WWE dealWhile operating income jumped 54% YoY to $2.6B, showing its profit focus, no longer providing subscriber data has caused investor concern, leading to the after-hours dip.As competition intensifies, Netflix is pivoting from pure subscriber growth to prioritizing revenue and profitability. Its strategy diversification should sustain its streaming dominance long-term.Netflix's results kick off the big tech earnings season, with many of the major technology giants like Alphabet Inc. Amazon Microsoft and Meta reporting over the next few weeks. Their performances will shed more light on the overall health of the sector amid economic uncertainties.Do you think Netflix should trade at 40x earnings? #Netflix #Earnings #WallStreet #StockMarket #Tech #Economy #SP500

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10. Dan Rayburn

    Streaming Media Expert: Industry Analyst, Writer and Consultant. Chairman of the NAB Show Streaming Summit (dan@danrayburn.com)

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    Netflix Q1 2024 Earnings: Added 9.33 million subscribers (global sub count of 269.6M); free cash flow of $2.21 billion with revenue growth of 15%, YoY. Average Revenue per Member (ARM) rose 1% YoY. Over 40% of all signups in Netflix's ads markets came from their AVOD plan. Forecast Q2’24 revenue growth of 16%. More details:- Still forecasting full year 2024 free cash flow of approximately $6B, assuming no material swings in F/X, and cash content spend of up to $17B.- Netflix trailers generate over 6B impressions every month on Netflix — more than 40x what they get on YouTube.- Starting next year with Netflix's Q1'25 earnings, the company will stop reporting quarterly membership numbers and ARM saying, "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. 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." #netflix #SVOD #AVOD #streamingmedia #cordcuttingShareholder letter: https://lnkd.in/eHF6n9r5

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