Breitbart Reports: Netflix’s decision to end its quarterly reporting of subscriber numbers tells me Netflix knows it has peaked.

On Thursday, Netflix released a glowing report that showed the streaming service attracted 9.3 million new subscribers during the first quarter of 2024, which brings its total number of worldwide subscribers to 269.6 million.

That’s a great number that embarrasses second-place Disney+. The Disney Grooming Syndicate has 149.6 million worldwide subscribers. But a peak is a peak, and corporations are all about growth.

Netflix also reported $9.37 billion in total revenue during the last quarter and $5.2 billion in earnings per share, which is better than Wall Street expected. But then Netflix announced it would no longer release quarterly subscriber numbers starting in 2025. The streamer will also stop reporting average revenue per member (ARM), another metric Wall Street counts on.

“As we’ve noted in previous letters, we’re focused on revenue and operating margin as our primary financial metrics — and engagement (i.e. time spent) as our best proxy for customer satisfaction,” the Netflix earnings report said. “In our early days, when we had little revenue or profit, membership growth was a strong indicator of our future potential. But now we’re generating very substantial profit and free cash flow.”

Wall Street said that’s all well and good, but those subscriber numbers tell us about the future.

Netflix hasn’t made many mistakes in its revolutionary approach to entertainment. Netflix single-handedly changed how we watch TV, has won the streaming wars, and is the only streaming outlet not losing billions.