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Netflix profits soar after password crackdown

The streaming giant also said it added 9.3 million subscribers in the first three months of the year.

Announcing its decision, the firm said in a letter to shareholders: "In our early days, when we had little revenue or profit, membership growth was a strong indicator of our future potential". Other technology giants such as Facebook parent Meta and social media platform X, formerly Twitter, also stopped reporting monthly active user numbers as growth slowed. "Streaming is a notoriously choppy market, and keeping hold of customer dollars is an uphill climb," said Sophie Lund-Yates, lead equity analyst at share dealing platform Hargreaves Lansdown.

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