Netflix says its profits have soared in the first three months of this year, partly thanks to a crackdown on password sharing.
The streaming giant said it added 9.3 million customers in the first quarter, bringing its total number of subscribers to almost 270 million.
The company also said its profits in the first quarter jumped to more than $2.3bn (£1.85bn).
But the firm will stop reporting key subscriber numbers from next year.
…
Some investors saw its unexpected decision to stop reporting subscriber numbers as a sign that Netflix’s wave of customer growth may be coming to an end.
Simon Gallagher, a former Netflix director and now principal of entertainment investment firm SPG Global, told the BBC’s Today programme that while the numbers indicated a “very, very strong performance” this might not last.
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Be sure to read the article. Netflix has announced they won’t be disclosing subscriber numbers from here on out. Probably not a good sign.
Keep wringing out that sponge for money, it definitely won’t rip or tear at some point.
I heard investors need stocks to forever go up and for that to happen companies need to keep doing things like this. They cant just leave things as they are or something
Can confirm, am investor, need stonks to go up.
I am also an investor. If the socks don’t go up I get a rash, shortness of breath and this feeling of inescapable doom. So unless you want to be a murderer I suggest you help me keep the stonks going up.
What? There aren’t an infinite number of potential new users to sign up?
One day the companies will figure out how to charge infinite money for no product or service. Then capitalism will be satisfied and the game will be won.
I thought this might be the case for insurance companies once self driving cars displace manually driven cars entirely.
Collect all the premiums, pay out very rarely since these systems have the potential to be a lot safer in general than human drivers. Possibly with the exception of Tesla since Musk’s decision to not have Lidar severely constrains their system’s ability to function properly.
Kinda just feels like the subscription model honestly
I canceled my Netflix because of this and I don’t even share my password. Also because they fucked up the witcher.
I cancelled all my streaming accounts because of this. I never shared the password other than with my SO. It was a wake up call to the whole subscriptions scam. It’s a shitty middleman.
Subscriptions add up real quick: movies, music, games, apps, cloud, news, etc. Let alone having some other hobbies.
I have friends who drop $200 per month on those things. Absolutely insane. That’s a month worth of avocado toast.
My ex has hundreds of dollars of subscription stuff each month: Disney, Netflix, Hulu, Amazon Streaming, Max/HBO, OnlyFans, Tinder, Field, Bumble etc etc. It’s so stupid
OnlyFans
We were poly, I have my own OF, it’s no big deal except those subscriptions add up fast. Just like the dating apps were okay at the time too, but an annoying cost when added up.
Same on both counts
I unsubscribed when I first heard of it. Haven’t missed it.
Same. A lot of it was low quality.
There was a time when Netflix had some really weird indie shit and I loved that. Last I used it they basically produced their own butchered versions of other material, like the Witcher. I unsubscribed after the first season.
Unsubscribed just because they pulled this move. None of the 3 people i was sharing it with ended up subscribing.
But what will they do next time they need to make line go up? I know! Increase prices again!
I’d pay slightly more than their current rate if they could get me much higher bitrate streaming. I can’t pay more for the same, though, and I fear that’s the tack they will take.
Nah bruv I’ll continue sailing.
LOL I was in arguments with a number of angry internet people who were vehemently screaming how this would be the death of Netflix. They seriously thought that all the people who were getting free passwords would simply not subscribe to Netflix. To which I responded, then they wouldn’t lose a single subscriber. And then I saw more than a few people actually say that subscribers who were sharing their passwords would stop subscribing to Netflix because they weren’t able to share their passwords. Just an example of how your personal feelings about something can skew your observance of a reality.
Now, why people are choosing to subscribe to Netflix at all is something I genuinely don’t understand. I’ll pay for a month of it every 12-18 months and get bored searching for something to watch within a couple days.
I’m interested to see how the younger TikTok generation transitions to commercial programming. I would think some portion of the demographic isn’t going to want to sit own for 30-90 minutes to watch wide-screen television. Just as we transition from over-the-air to cable to streaming, I wonder what will come next. “TikFlix”?
“TikFlix”?
We’re actually there. Go on YouTube and you’ll see entire movies condensed into tokable sized chunks. This is how Z watches movies now, and it will only get worse.
Songs are becoming shorter and shorter, to hopefully create a tiktok trend.
Most modern movies are pointless fluff anyway. I don’t need to watch 20minutes of fighting and explosions, I really don’t. Or even more stereotypical, boring one liners, jokes, and banter. Not to mention the movies with the exact same emotional motivations - the superhero movies. Miss me with the war propaganda and reactionary bullshit. And that’s what most movies are about these days. Internet is killing Hollywood because Hollywood has always been fluff and not that good.
This sounds like satire but I don’t really want to know
I’m still using a password shared with me, no issues at all.
My tip to you is
Shhhhhh
Enjoy it but do not talk about it.
Even if someone shared their password with me I wouldn’t use it because I like to be in control of my media. That’s why I run a Jellyfin server.
What is NetFlix? Is it a Stremio add-on?
What’s next for the next quarter’s profits? I mean your shareholders are not just gonna stop there. It’s an infinite money pit, right?
But the firm will stop reporting key subscriber numbers from next year.
They’re going to pretend user attrition isn’t happening as new subs burn out on content and the old “family” accounts recalculate the value of their subscriptions and start dropping or juggling netflix.
Cool, so it doesn’t matter for the yo ho hos amongst us.
Their sign up for password sharing is extremely aggressive too. Once you login to your TV it forces you to see the plan information without any option to say no or skip, regardless if you’ve shared your account before. You then have to select the other non default option to opt out. IF you accidentally hit ok after frustratingly trying to leave the prompt you get auto billed for the new fee zero confirmation of CC or purchase information. You then immediately have to enter the cell number of who you want to share with without letting you leave or go back. They want that person’s info regardless if you plan to share or not.
Someone at the BBC is having themselves a bit of a larf with that thumbnail photo.
I use my account at two households without much issue. I wish they were a little more lenient, but it’s better than Hulu’s implementation. I canceled Hulu TV because of it.
