'Ultimately we think this is a better approach that reflects the evolution of the business,' Netflix Co-CEO Greg Peters said on an earnings call.
Love isn't the only thing that's blind at Netflix . Touting a blockbuster 9.3 million added subscribers in its first quarter earnings report Thursday, the streaming giant also revealed that it would stop sharing quarterly membership numbers starting in 2025.'In our early days, when we had little revenue or profit, membership growth was a strong indicator of our future potential.
After enjoying steady subscriber growth for years, Netflix lost 200,000 subscribers at the start of 2022, and by July of that year, it had lost almost a million more. Following an accompanying stock price dive, the streamer launched a cheaper, ad-supported plan and netted almost 9 million subscribers from the previous year by the end of 2022.
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