As part of its Q1 2024 report, Netflix has revealed its reach across Europe, Middle East and Africa has grown to over 90 million subscribers.
The streamer had 91.7 million paid members in EMEA at the end of the quarter, an increase of almost three million from Q4 2023.
Globally, total memberships rose 16 per cent in the first quarter, reaching 269.6 million, well above the 264.2 million Wall Street had expected.
This will be one of the last times analysts will get a look at the company’s subscriber numbers as Netflix said it intends to stop quarterly reporting.
Analyst Paolo Pescatore says Netflix has seen a “cracking start to the new year” with the latest results underlining the company’s strategy to grow, thanks to new initiatives such as suppressing password sharing and ad tiers. “There are still plentiful opportunities for further growth,” he added.
“Subsequent quarters might be challenging due to seasonality; which typically underperforms compared to other quarters as people spend more time outside of the home,” said Pescatore.
