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Netflix announces excellent results for early 2024 but…

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Netflix continues to outrageously dominate the streaming market globally. The service announced a 16% increase in its total number of subscribers in the first quarter. It has 269.6 million subscribers worldwide.

The platform can clearly look to the future with confidence with a turnover of 9.37 billion dollars in the first three months of the year, while its net profit amounts to 1.30 billion dollars.

Enough to make Ted Sarandos, co-CEO of Netflix, smile. The manager notably teases a new thing that he wants to offer: “We are at the very beginning of the development of our live programming and I would consider this as an expansion of the types of content we offer, in the same way that we have expanded into film, unscripted programming, animation and, more recently, games”.

He adds: “We think that these kinds of cultural events, like the fight between Jake Paul and Mike Tyson, are just that kind of television, and we we want to help bring these moments to our members as well, and for me that's the most exciting aspect of it”.

An unexpected decision from Netflix

More surprisingly, the entertainment giant also warned that it would stop disclosing the number of people who have signed up for its service, as well as the revenue generated by each subscriber starting next year.

Netflix explains thus& nbsp;: “In the early days, when we had little revenue or profit, growth in membership was a strong indicator of our future potential. Today, we are generating very strong profits and free cash flow”. The company will, however, continue to announce major subscriber milestones as we reach them.

Now that it has gained the upper hand over its rivals, the platform is pulling out all the stops to increase its profits, as evidenced by its regular price increases (a new one is expected this year) or even the prohibition of account sharing between people who do not reside under the same roof.

As highlighted by CNBC, the company must also respond to the request of certain investors who sometimes seek to better understand Netflix's strategy, in particular its surprising foray into the world of video games. Remember that the service offers free access to several dozen mobile games to its customers. If this strategy of the firm in gaming interests you, we invite you to read our dedicated article on the subject here.

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Teilor Stone

By Teilor Stone

Teilor Stone has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining Thesaxon , Teilor Stone worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my teilor@nizhtimes.com 1-800-268-7116