Netflix has reported their Q1 2024 performance with a 14.8% increase in total revenue compared to the same period last year, reaching $9.37 billion. Net income also saw a growth to $2.332 billion, with free cash flow at $2.137 billion. The global subscriber base stands at 269.60 million accounts, adding 9.33 million accounts from Q4 2023.
The company has shifted focus from revenue to subscriber growth in the past, but now with a more stable revenue, Netflix plans to concentrate on revenue and profit margins as financial metrics. User engagement will serve as a key indicator for user satisfaction. The subscription packages have become more diverse, ranging from ad-supported lower-priced options to ad-free higher-priced plans tailored to different markets worldwide. As a result, Netflix has decided to discontinue reporting subscriber numbers starting from Q1 2025.
Notable content from the previous quarter includes Griselda (66.4 million views), 3 Body Problem (39.7 million views), Avatar: The Last Airbender (63.8 million views), and Queen of Tears (14.2 million views).
TLDR: Netflix’s Q1 2024 saw revenue and subscriber growth, leading to a shift in focus towards financial metrics and diversified subscription packages, prompting the decision to cease reporting subscriber numbers from Q1 2025.
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