Netflix Exceeds Earnings Estimates , As Subscribers Increase.
Netflix Exceeds Earnings Estimates , As Subscribers Increase.
Netflix released a Q1 earnings report on April 18, indicating that its number of subscribers jumped 16% year-over-year to reach 269.6 million.
Analysts only expected the streamer to have about 264.2 million subscribers, CNBC reports. .
The company also brought in $9.37 billion in revenue versus analysts' expectations of $9.28 billion. .
However, Netflix said that its membership numbers are no longer the main factor contributing to the company's growth.
As a result, the company will stop providing "quarterly membership numbers or average revenue per user" beginning in 2025, CNBC reports. .
Instead, it will divulge "major subscriber milestones as we cross them.".
Price hikes, terminating password sharing
and offering an ad-supported tier are all tactics that have boosted revenue.
Netflix is also seeking to gain traction within the video game space and recently partnered with TKO Group Holdings to offer WWE on the platform.
We’re in the very early days of
developing our live programming and
I would look at this as an expansion of
the types of content we offer, the way
we expanded to film and unscripted and
animation and most recently games, Ted Sarandos, co-CEO of Netflix, via earnings call.
We believe that these kind of event cultural
moments like the Jake Paul and Mike Tyson
fight are just that kind of television, and we
want to be part of winning over those
moments with our members as well, so that
for me is the excitement part of this, Ted Sarandos, co-CEO of Netflix, via earnings call.
As of the morning of April 18,
Netflix's stock was up 27%
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This Day in History: , Donna Summer, Queen of Disco, Dies.
May 17, 2012.
The 63-year-old singer and
songwriter died in Naples, FL,
from non-smoking related lung cancer.
The disco diva rose to fame
in the 1970s, with hits like
"Hot Stuff" and "Last Dance.".
As disco's popularity waned, Summer
wrote songs for several different genres.
Her song, "Starting Over Again," for Dolly Parton
was a number-one country single in 1980.
Her 1983 hit, "She Works Hard
for the Money," became a
pop-rock feminist anthem.
Summer was a five-time
Grammy winner, who's been
sampled by artists from
Beyonce to the Pet Shop Boys.
The mother of three was
buried in Nashville, her
home since the 1990s
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