Streaming platform Netflix gained 9.3 million subscribers in the first quarter of this year. According to the platform, the past quarter was the best start to a new year since the first quarter of 2020.
Netflix says that the large increase in subscribers is partly due to limiting account sharing and an expanded range of series and films, writes Reuters. Last year, the streaming platform started reducing password sharing. The number of Netflix subscribers worldwide has stood at 269.6 million since the end of March.
The cheaper subscription, in which users see advertisements, is also said to contribute to the growth. The advertising subscription has been available in the US since November 2022 and will later be rolled out to eleven other countries. It is not yet available in the Benelux.
Netflix also reports that from next year it will no longer communicate the increase in subscribers for each quarter. The company says it wants investors and analysts to focus more on turnover and profit, explains co-CEO Greg Peters. Netflix generated revenue of nearly $9.4 billion from January to March. For the coming quarter, the platform expects revenue of $9.49 billion.
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