Netflix’s first-quarter earning report disclosed a surprising addition of 9.33 million paid subscribers, zooming past analysts’ estimates of around 3.9 million. As of March 31, Netflix said it has 269.6 million paid subscribers.
Subscribers were lured in by Netflix’s lineup of shows, including a live-action adaptation of “Avatar: The Last Airbender;” a new series, “3 Body Problem,” from the creator of “Game of Thrones;” a new season of “Love Is Blind;” and Sofia Vergara’s drama,” Griselda,” among them.
Netflix saw the biggest subscription growths in the U.S. and Canada, where 2.53 million subs were added, while 2.92 million joined in Europe, the Middle East and Africa. Latin America saw 1.7 million new subscribers, and the Asian-Pacific region bumped up by 2.16 million. Despite the good news, Netflix said it will stop publishing quarterly subscription totals in 2025.
Netflix also increased its revenue by 15% from the first quarter of 2023, with a net income of $2.33 billion. The streaming platform estimates a Q2 revenue of $9.49 billion.
