The Town with Matthew Belloni
Netflix’s Backtrack on Transparency
Apr 22, 2024
Bloomberg's Lucas Shaw joins to discuss Netflix's shift from transparency in reporting subscriber data, questioning its impact on the streaming industry. Matt predicts the future of primetime TV amidst Netflix's changes.
32:08
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Quick takeaways
- Netflix's focus on financial metrics over subscriber growth alters its perception as a growth tech stock.
- Competitors may struggle to shift from subscriber growth to profitability metrics due to Netflix's move to hide subscriber numbers.
Deep dives
Netflix's shift to focus on profitability over subscriber numbers
Netflix announced strong earnings, generating $2.3 billion and adding $9.3 million subscribers, partly due to password sharing crackdown. Despite this, the stock dropped 8% as Netflix revealed plans to stop reporting quarterly subscriber data and average revenue per user. This shift signals the company's focus on financial metrics over subscriber growth, altering its perception as a growth tech stock.
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