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Netflix Will Stop Reporting Subscriber Numbers Starting in 2025
Netflix will no longer report subscriber numbers -- which has been a key metric for streaming services for years -- beginning with the first quarter of 2025.
In its Q1 letter to shareholders, Netflix said that engagement — time spent with the service — is its “best proxy for customer satisfaction.” As such, it will no longer report quarterly membership numbers or average revenue per member (which it dubs “ARM”). “As we’ve noted in previous letters, we’re focused on revenue and operating margin as our primary financial metrics — and engagement (i.e. time spent) as our best proxy for customer satisfaction. It’s why we’ve been providing progressively more information on engagement, starting with our Top 10 weekly and most popular lists and more recently our biannual report into viewing on Netflix (which covers ~99% of all video watch time on our service).
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