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Netflix doubles expectations with 9.3 million new subscribers

Netflix doubles expectations with 9.3 million new subscribers
© Netflix
Netflix impresses with 9.33 million net customer additions in the first quarter of 2024 to approach 270 million subscribers worldwide.

Netflix has reported better-than-expected subscriber figures for the first quarter of this year, adding 9.33 million net customers over the three months to April.

The number is almost double the 5 million expected by analysts and takes the streamer's worldwide subscriber base to 269.6 million - up an impressive 16% year on year.

Revenue for the quarter was $9.3 billion (£7.5 billion), while net income was up $1 billion year-on-year to $2.3 billion (£1.6 billion).

Among the key drivers for Netflix over the period were crime thriller Griselda, British romantic drama Fool Me Once, sci-fi drama 3 Body Problem and the sixth season of reality format Love Is Blind. Oscar-nominated Society of the Snow also became the platform's second most popular non-English language movie of all time.

In a statement to shareholders, the company said: "We have built a hard to replicate combination of a strong slate, superior recommendations, broad reach and intense fandom, which drives healthy engagement on Netflix.
Improvement in these key areas is the best way to delight our members and continue to grow our business."

Netflix remains the world's most-subscribed streaming service, with its base of around 270m ahead of Amazon's Prime Video (circa 200m), Disney+ (150m), Max/discovery+ (98m) and Paramount+ (68m).

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