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You can a) nicely ask the analysts to pay less attention to subscriber figures and instead focus on something else, like revenue and profits; or b) just stop reporting your subscriber numbers every quarter.
That thinking has changed. Now, profitability is the top priority across the industry, and traditional media organizations have severely cut costs to get their cash flows under control, leaving Netflix to extend its lead.
The effect of converting freeloaders to paying customers will eventually wear off, though Netflix still has room to grow. The company still accounts for less than 10% of U.S. television usage, according to Nielsen. People actually spend more time watching YouTube, which is free.
Journalist who accused NPR of liberal bias resigns from the network. Longtime editor Uri Berliner, suspended after the publication of his Free Press essay that said the nation had lost trust in the public broadcaster, announced his departure from the network.
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. But now we're generating very substantial profit and free cash flow," a letter to shareholders read. "We are also developing new revenue streams like advertising and our extra member feature, so memberships are just one component of our growth."
"Ultimately we think this is a better approach that reflects the evolution of the business," Co-CEO Greg Peters said on an earnings call, referencing the company's shifting priorities from member growth to revenue and profit.
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.
For years, subscriber growth was the benchmark Netflix was judged by. The stock has a history of swinging wildly based on its quarterly subscriber growth and how it compares with management's own guidance and investor expectations.
Netflix stopped providing subscriber guidance last year because management believed it was no longer as relevant to understanding the business as overall revenue growth. That move foreshadowed Thursday's decision to stop reporting the metric entirely starting in 2025.
Companies' decisions to stop reporting key metrics often look like obfuscation. Certain metrics might make the company look bad from time to time so management would rather not report them. For example, some companies in the retail and restaurant sector, for example, have stopped reporting monthly comparable sales, to the chagrin of investors looking for updates more frequent than each quarter.
However, Netflix's decision to back away from subscriber numbers seems justified. The business model has changed substantially in the last few years with the launch of its ad-supported tier and the crackdown on password sharing. It has multiple ad-free tiers now across a wide price range, plus an extra member option.
Additionally, Netflix says it's more focused on engagement rather than individual subscriptions, as it sees engagement as the best indicator of future growth and success. A highly engaged subscriber to the ad-supported tier, for example, will monetize at a higher rate than one who only watches a few hours per month since advertisers pay to show them ads.
After stumbling in the aftermath of the pandemic, Netflix has regained its mojo thanks to the launch of the ad-supported tier, the paid sharing password crackdown, and a normalization in streaming demand.
Most of Netflix's legacy media peers are struggling in their transition to streaming, but the company's decision to stop reporting quarterly subscribers could help by giving them cover to do the same. Quarterly subscriber growth is notoriously volatile, and Netflix stock has plunged several times in its history over one quarter of results only to bounce back the next as subscriber numbers improve. Quarterly subscribers can be influenced by new content on the platform, competitive actions, or other television events such as the Olympics.
Netflix's competitors, including Disney, Warner Bros. Discovery, and Paramount Global, have all reported weak subscriber growth recently, but persuading investors to judge their efforts on financial metrics such as revenue growth and operating margin could make those businesses look better. And it's easy to do when they have a history of copying each other's moves by launching their own ad-supported tiers or cracking down on password sharing.
Once again, Netflix is setting the standard in the streaming industry, but its peers can also benefit from its latest decision. Shifting the focus away from quarterly subscriber growth could be a win for the entire streaming sector.
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Trying to reach Netflix for help with your account? If so, watch out for this crafty con. Scammers provide fake customer support numbers online and fool callers into purchasing unrelated computer software.
Here's how the scam works. You are having trouble with your Netflix account, so you search online for the customer support phone number. A quick search turns up what appears to be a legitimate toll-free number (1-888 or 1-844 number). You dial it, and a "representative" answers. This person declares that your Netflix account has been hacked. In one version, the scammer claimed a dozen people from across the globe all used a victim's account.
Skeptical? The "representative" says they can provide proof that your account was hacked. But first, they need remote access to your computer. Unfortunately, granting a scammer access can open you up to the risk of identity theft.
Scam artists can install malware that records passwords or hunts for personal information, such as bank account numbers. However, according to BBB Scam Tracker reports, this scam appears to be a pretext for selling computer security software. The expensive software - victims report paying between $200 and $900 - will do nothing to fix your Netflix account, which was never hacked in the first place.
Showmax, a South African video-on-demand service, was launched in 2015. Multichoice owned 70% of the shares, while NBCUniversal owned the remaining 30%. The streaming service has grown steadily and is currently available in 40 African countries.
According to Omdia, Showmax gained 1.7 million subscribers in 2022, which had risen to 2.1 by the end of November 2023. This rapid increase in subscriptions saw Showmax overtake the once-streaming giant, which had 1.8 million subscribers by the end of the same year.
From the beginning, Showmax has been growing steadily, venturing into several other countries, and has attributed its growth mainly to its ability to capture the local market with local content, something Netflix had failed to capitalize on since its launch on the continent.
In an article by Rest of World Blog, locals said that they prefer streaming Showmax because it makes them feel like they are watching their local television. They mentioned that the platform has a wide variety of shows, from comedy to african reality TV shows.
Showmax creates shows in several african languages, like Afrikaans, isiZulu, Kiswahili, Sepedi, SeTswana, Sesotho, and isiXhosa and others and has plans to add more african languages as they expand to other regions.
Showmax has been able to capture football fanatics by including premier league channels in their packages at affordable rates. With just Ksh 1000, one gets access to Showmax entertainment and premier league channels.
During the launch of Showmax premier league,Showmax CEO, Marc Jury said that Africa has over 250 football lovers who will greatly benefit from the product launch as they can keep up with their favorite clubs wherever they are whenever they want.
In recent years, Netflix has been trying to break into the local market by working with local producers to produce relatable content and only time will tell if the huge investments they are making into the African film industry will actually pay off.
In conclusion, As Showmax continues to dominate the local market in the second quarter of 2024, MultiChoice Group CEO Calvo Mawela is confident that their numbers and market share will keep increasing because they understand africa and are creating content and a platform that will revolutionize streaming in Africa in 2024
We particularly like seeing that last figure, but the PGA Tour has to be thrilled with all of the above. And this is what it was hoping for when it entered into a partnership with Netflix after seeing the effects the company's Formula 1 racing show, "Drive to Survive," had on that sport.
Overall, PGA Tour total audience delivery (TAD) was up across the board in 2023 with Golf Channel making the biggest gains (up 5 percent) in the metric. However, the gains were even bigger internationally with total linear viewership up 21 percent across 14 comparable markets, according to the tour.
The making of a second season of "Full Swing" from executive director Chad Mumm is well underway. We don't know the release date yet, but after seeing these numbers, we're pretty confident it will create even more new golf fans.
Subscriber membership numbers, which is considered a key metric on the success of a streaming service will not be reported on by Netflix starting next year, the company said in its letter to shareholders published on Thursday. Instead, Netflix will focus on engagement saying that the time customers spend on the service is a better indicator of their satisfaction.
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