Netflix Adds 9M Subscribers In Quarter; Membership Nearly 270M Worldwide

CBS San Francisco

April 19, 2024

LOS GATOS -- Netflix gained another 9.3 million subscribers to start the year while its profit soared with the help of a still-emerging expansion into advertising but caught investors off guard with a change that will make it more difficult to track the video streaming service's future growth.

The performance announced Thursday demonstrated that Netflix is still building on its momentum of last year, when a crackdown on free-loading viewers relying on shared passwords and the rollout of a low-priced option including commercials revived its growth following a post-pandemic lull.

The strategy resulted in Netflix adding 30 million subscribers last year — the second largest annual increase the service's history.

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