The company posted its best start to the year since 2020 thanks to a strong slate of original programs and a crackdown on password sharing.
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.
Expectations for Netflix’s first quarter had soared recently, as one analyst after another published rosy forecasts. In its letter to investors, the company said subscriber gains will be lower this period, while revenue will increase 16 per cent.Those metrics have long been the primary way Wall Street evaluated the company’s performance, but Netflix has tried to shift the focus to traditional measures like sales and profit. Management will continue to report major subscriber milestones.
“With more than two people per household on average, we have an audience of over half a billion people,” the company said in its letter. “No entertainment company has ever programmed at this scale and with this ambition before.”
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