The streaming giant said it added 9.3 million subscribers in the first three months of the year.

Netflix says its profits have soared in the first three months of this year, partly thanks to a crackdown on password sharing.

The streaming giant said it added 9.3 million customers in the first quarter, bringing its total number of subscribers to almost 270 million.

The company also said its profits in the first quarter jumped to more than $2.3bn (£1.85bn).

But the firm will stop reporting key subscriber numbers from next year.

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Some investors saw its unexpected decision to stop reporting subscriber numbers as a sign that Netflix’s wave of customer growth may be coming to an end.

Simon Gallagher, a former Netflix director and now principal of entertainment investment firm SPG Global, told the BBC’s Today programme that while the numbers indicated a “very, very strong performance” this might not last.

  • Gork@lemm.ee
    4·
    7 months ago

    I thought this might be the case for insurance companies once self driving cars displace manually driven cars entirely.

    Collect all the premiums, pay out very rarely since these systems have the potential to be a lot safer in general than human drivers. Possibly with the exception of Tesla since Musk’s decision to not have Lidar severely constrains their system’s ability to function properly.