In the first quarter of 2021, Netflix experienced a significant growth in revenue and net profit. The company’s revenue increased by 15 percent, reaching $9.37 billion, while net profit rose by 80.2 percent to $2.33 billion. This growth can be attributed to the addition of 9.33 million subscribers during the quarter, bringing the total number of subscribers to 269.6 million.
Netflix has recently made a move that will change its reporting strategy, as they have announced that they will no longer publish quarterly figures starting next year. This decision is likely a response to competition from other streaming service providers such as Disney.
Despite this growth, market observers expect the number of subscriptions to decrease slightly in the second quarter due to seasonal factors. However, Netflix forecasts revenue growth for the rest of the year in the range of 13 to 15 percent.
Overall, Netflix’s focus on increasing subscribers and raising prices reflects their efforts to stay competitive in an evolving market where competition is growing rapidly, especially from companies like Disney.
In conclusion, Netflix’s growth over the past year has been impressive and is expected to continue into the future. The company’s decision not to publish quarterly figures indicates a shift in their business strategy and suggests that they are looking ahead towards long-term success in an increasingly competitive industry.
