In recent months, Netflix has taken steps to expand and even radically restructure the business in an effort to turn a profit.
Last year, Netflix took a risk and forced password-sharing users to create their own accounts, and it paid off in the end, reports Capital.ba.
The dominant player in the streaming market thus added more than nine million subscribers in the first three months of this year, reaching a record 269,6 million subscribers.
“It added more subscribers than many analysts expected. It signals that password sharing is more common than previously thought, as Netflix continues to convert freeloader viewers into paying users,” said eMarketer Senior Analyst Ross Benes.
Although the increase in subscribers beat Wall Street estimates, the company again reported a decline in growth from its fourth-quarter report, when Netflix added 13 million subscribers.
Netflix announced Thursday that it plans to stop releasing quarterly subscriber data next year.
The company reported revenue of $9,37 billion and earnings per share of $5,28 for the first quarter, beating Wall Street estimates.
However, the stock, which has been a Wall Street favorite this year, fell in after-hours trading.
Analysts say much of the company's previous growth and success came from its old, well-established business model. In recent months, Netflix has taken steps to expand and even radically restructure its operations in an effort to turn a profit.
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