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Netflix shares down 10 percent on growth outlook.

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The best way to get investors to stop focusing on something is to stop telling them at all.

Netflix
said Thursday it will no longer report quarterly membership numbers and average revenue per membership starting in the first quarter of 2025.

This is a significant change for the company and for the so-called “streaming wars,” which have largely been defined by a race for customers. Netflix wants investors to judge the company by the same metrics executives view as “our best proxy for customer satisfaction,” the company said in its quarterly shareholder letter.

Namely: revenue, operating margin, free cash flow — and the amount of time spent on Netflix.

It’s also a signal Netflix’s second wave of subscriber growth may be ending. The company announced it added 9.3 million subscribers in its first quarter as its global password-sharing crackdown and introduction of a less expensive advertising tier took hold. (The ad tier costs $6.99 per month in the U.S. as opposed to its $15.49 standard plan).

www.cnbc.com/2024/04/18/netflix-earnings-what-subscriber-reporting-change-means.html

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