Netflix Acquires New Customers And Shows Strong Growth

The streaming provider Netflix has taken a certain risk with its approach to password sharing. Now it turns out that the company did everything right here and was rewarded with numerous new subscribers.

Customer numbers will soon remain secret

The balance sheets now published for the past quarter show an increase in customers of more than 9 million. This means that the number of subscribers to Netflix has grown to a new record of 269.6 million. Even the more optimistic analysts had not expected such an increase in their forecasts.

The strong increase was directly reflected in the financial results. Netflix generated revenue of $9.37 billion in the first three months of the year. In the same period last year, only $8.16 billion was reported. Net profit climbed from $1.3 billion to $2.33 billion. Both key figures were above expectations.

The management has now announced that it will no longer show subscriber numbers in the quarterly financial statements from the coming financial year. The reason for this is that this value will no longer be the key indicator by which economic development can be determined.

Live and gaming

Various developments ensure that sales and profits no longer rise or fall to the same extent as customer numbers. The background to this is the fact that Netflix, for example, is opening up new sources of income – such as integrating advertising into the cheapest tariff. So it’s more about the question of how much money can be generated from a customer.

In order to bind users more closely to the platform, Netflix primarily wants to expand its live offering in the coming period. The company secured the rights to broadcast wrestling shows. But there should also be further progress in the games sector, as a collaboration with the makers of “Grand Theft Auto” has just started with some success.

Yasir Zeb

Digital marketing enthusiast and industry professional in Digital technologies, Technology News, Mobile phones, software, gadgets with vast experience in the tech industry, I have a keen interest in technology, News breaking.