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Netflix’s Victory Lap 🎬
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Netflix’s Victory Lap 🎬
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Netflix’s Victory Lap 🎬
Just like the Paris Peace Treaty brought an end to World War II, another years-long battle seems to have a victor emerging.
And we think that they are more than ready to take The Crown.
It turns out that adding everyone’s two least favorite things in the world - ads and strict passwords, has been working out well for Netflix.
The OG of streaming, Netflix, just bulked up its subscriber list by a whopping 9.3M in the first quarter of 2024. They’re now the proud entertainers of over 270M subscribers globally.
With more than two people per household on average, we have an audience of over half a billion people. No entertainment company has ever programmed at this scale and with this ambition before.
Ads Ads Ads
The company that popularized ad-free streaming, would like you to join its ad tier now.
Netflix wants you to subscribe to their $6.99/mo ad-supported plan compared to its standard $15.49/mo because they make more money per user advertising goods to you than just by collecting your monthly subscription fees.
They’ve made it clear that they plan to double down on it as this initiative is expected to be the primary driver of growth in 2025, with a lower entry point for new members and a higher ARPU potential.
Their ad membership grew 65% in Q1 ‘24 and 40% of new signups in ad-available markets are for the ad-supported tier.
This led to the company reporting a revenue of $9.3B, up 15% QoQ.
Bomb Drop
Amongst all the good news, Netflix dropped a bomb that it won’t be reporting subscriber numbers from 2025 onwards. Why?
Well, according to Netflix, it’s a sign of maturity. It wants the Street to recognize that it’s all grown up and to focus on Big Boy metrics like revenue, profit and EBITDA.
Netflix said that with their new initiatives like tiered pricing, password-sharing crackdown and advertising, their business is not as straightforward as [Subscriber Count * Membership Cost] and thus the number of subscribers is less indicative of the company’s performance.
Netflix seems to be entering a new phase which definitely looks very promising. What’s your take on this?
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☄️ Asteroids ☄️
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