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Netflix will Stop Reporting Revealing Subscriber Numbers From Q1 2025

Despite back-to-back quarters of growth following the password-sharing crackdown, Netflix will cease reporting on its subscriber numbers from Q1 2025. By: Kritchanon Tan Kian Wei

US - Netflix released its Q1 2024 earnings on Thursday 18 April, surprising investors with higher-than-expected subscriber numbers, but also shocking them when Netflix revealed it would no longer reveal subscriber numbers from Q1 2025.

Whilst analysts estimated that Netflix would add 3.93 million subscribers in Q1 2024 to reach a total of 264.21 million according to StreetAccount, Netflix revealed that they added 9.33 million subscribers during the period, reaching a total of 269.60 million subscribers.

However, despite several successful back-to-back quarters following the implementation of Netflix’s password-sharing crackdown, Netflix also revealed that it would stop reporting quarterly subscriber numbers, a key metric in the streaming business, from Q1 2025.

After the news came out, Netflix shares dipped by over 4.5%.

Netflix explained that their reasoning for the decision was that engagement, not subscriber counts, is the “best proxy for customer satisfaction,” though Netflix assured that it would still announce “major subscriber milestones as we cross them.” Co-CEO Greg Peters also assured shareholders that the password-sharing crackdown has not hurt Netflix’s viewership.

Also announced on Thursday morning was the news that Netflix’s The Witcher would be renewed for a fifth and final season, and that Seasons 4 and 5 would film back-to-back, with the fourth season now in production. This comes after it was revealed in 2022 that Chris Hemsworth’s younger brother Liam Hemsworth would replace Henry Cavill as the lead character of the action-adventure fantasy drama series, Geralt of Rivia, following Cavill’s departure from the role in Season 3 of the book series adaptation.

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