Netflix to stop reporting subscriber tally

STORY: Netflix announced on Thursday that it will stop reporting subscriber numbers each quarter… signalling years of customer gains in the streaming wars may be coming to an end.

The streaming giant's shares fell after it reported a large batch of new customers in the first quarter – but gave a revenue forecast that missed analyst targets.

The stock fell over 4% in after-hours trade.

Netflix said its ad-supported streaming plans helped add over 9 million customers, bringing its global total up to nearly 270 million by the end of March.

The company’s executives have urged investors to now focus on revenue and operating margins… rather than customer additions.

But analysts said the decision to end quarterly reporting of subscribers would rattle investors, and make it harder for Wall Street analysts to assess the company’s business.

Netflix shares have jumped nearly 90% over the past year as it leaped ahead of competitors such as Disney - which is still losing money on its streaming business.

Other platforms including Facebook and X have stopped reporting metrics equivalent to subscriber numbers as growth slowed.