I mean what streaming service wouldn't flex those numbers? I gotta wonder if they have a huge churn issue, where they can get the trial membership conversions for maybe a month or two then they drop off from the shit password policy. Sure, revenue is going up. But definitely seems sketch they aren't reporting numbers. You could have high revenue and still have a stupid amount of churn. #Netflix
Is McDonalds still counting how many hamburgers they sold?
Yes
They’ve reached total addressable market saturation
They’re focused on Ads and want Wall Street to look at their profits than new subscribers.
Why does it matter? Apple no longer reports iPhone sales numbers. Meta no longer reports MAU. At the end of the day, companies are all judged on revenue, profit and cash flow and their growth. No valuation is based on subscribers. And why does Netflix want to be judged on this number when ARPU is 3x of Disney+?
You could have high revenue and high churn? Explain me how genius.
Doesn't really matter. If Netflix can have high churn and high growth in sales and profit. Its stock should soar any way. Churn isn't a core metric
My point was not about the metric, but if it is even possible to have have high revenue and high churn at Netflix scale, not to mention have 28% profit margin.
Think about it this way: normalizing reporting subscriber growth vs other platforms increases the sentiment that other platforms are relevant (if HBO reports X% subscriber growth, and that number is similar to what Netflix reports, it makes them seem to be on the same playing field). The reality is, no one is on the same field as Netflix. Shifting our reporting to highlight financials makes it crystal clear how far ahead we are, and is really what matters at the end of the day anyway.
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They just aren't growing at the same rate, ending the practice on a high note with a big beat and signaling to wall street that it's all about profits going forward.