The streaming giant said it added 9.3 million subscribers in the first three months of the year.

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.

    • comrade19@lemmy.world
      50·
      8 months ago

      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

      • Mikina@programming.dev
        331·
        8 months ago

        Not only investors. Everyone needs stocks to forever go up. We’re kind of fucked, because once it becomes apparent that the infinite market growth isn’t possible and we reach a theoretical ceiling of stock market, the world and economy will probably be in serious shit.

        I’ve tried looking for some articles or papers about what would actually happen and couldn’t find any, but our society right now is kind of based on that premise, and once it stops it’s going to be a problem. Mostly for the ordinary people, though. And of course, caused entirely by the greedy investors struggling to figure out how to keep milking the cow. Fuck capitalism.

        • Lukewarm_Tea@lemm.ee
          11·
          8 months ago

          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.

      • Lukewarm_Tea@lemm.ee
        15·
        8 months ago

        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.

        • Gork@lemm.ee
          5·
          8 months ago

          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.