Netflix’s Q1 revenue jumped nearly 15% year-on-year to $9.37 billion
Netflix profit soared in the first quarter of this year following the password-sharing crackdown. Its profits soared over $2.3 billion. Hits like the crime drama Griselda contributed to the success.
Its revenue jumped nearly 15% year-on-year to $9.37 billion, partly driven by 9.3 million new subscribers. Its stock also surged over 30% in 2024. The streaming service now has 270 million users worldwide.
However, Netflix plans to cease reporting quarterly subscriber figures starting next year and will focus on other revenue metrics.
Looking ahead, the company aims to diversify revenue streams by introducing ad-supported subscriptions and exploring live events like sports streaming.