Netflix posted its best start to the year since 2020, attracting more new customers than anyone expected thanks to a strong slate of original programs and a crackdown on password sharing. (Bloomberg)
The company announced it added 9.3 million subscribers in its first quarter as its global password-sharing crackdown and introduction of a less expensive advertising tier took hold. (The ad tier costs $6.99 per month in the U.S. as opposed to its $15.49 standard plan.) (CNBC)
The company now has 269.6 million global subscribers. Netflix reported revenue of $9.4 billion and operating income of $2.6 billion, both up substantially from a year earlier. (THR)
Netflix is moving beyond subscriber numbers. In its first quarter earnings results released on Thursday, Netflix announced that it will stop reporting quarterly membership numbers in 2025 because subscribers are “just one component” of its growth. (The Verge)
With Aladdin producer Dan Lin taking over film leadership at Netflix from Scott Stuber, there will still be a commitment to a robust feature slate. Such were the statements from the streamer’s co-CEO on Thursday during the company’s call to discuss its Q1 earnings report. (Deadline)
Netflix was surprisingly upfront about its upfront plans. The company is set to make its second upfront presentation this May, and in an earnings call today, Netflix’s leaders explained exactly what to expect. (ADWEEK)