It now has almost 270 million subscribers, which is comparable to the populations of Russia and Mexico combined.
However, those kinds of comparisons will be harder to make in the future. Netflix announced starting next year it will stop releasing subscriber numbers and instead only announce milestones as it passes them.
Wall Street did not react well to the news, sending the stock lower.
Netflix’s password-sharing crackdown has been a great success. That’s good news for other streaming platforms like Disney that are looking to launch their own crackdown. But the boost will likely fade over time, and some on Wall Street worry the new level of secrecy on subscriber numbers is a sign that growth is decelerating.
Plus, Netflix’s stock had increased 50% in the six months before earnings. It’s possible some investors saw an opportunity to book some of their profits.
What’s not in question? Netflix’s supremacy in streaming.