Netflix's financial report states that 9.33 million subscribers have joined the streaming service.

Today, Netflix reported its first quarter earnings report, and there's a lot for the content giant to be happy about. The company will open the report saying “revenue increased 15%, our operating income increased 54% and our operating margin increased seven percentage points to 28%.

Netflix's first quarter report

Netflix's financial prowess was further underscored by its revenue of $9.37 billion, a figure that beat the $9.26 billion expected by analysts and industry experts. That translates to an impressive earnings of $5.28 per share, beating the $4.51 forecast.

The Netflix report reveals 270 million subscribers in 190+ countries, with an average of more than two people per household. This translates into an audience of over half a billion people, a scale and ambition unparalleled in the entertainment industry. The report states, “to cater to such a large audience, we strive to provide a diverse range of compelling stories that cater to diverse tastes.”

The improvement in subscriber numbers can be attributed to a crackdown on password sharing. Netflix is ​​set to reduce the number of users who can log into a single account, so the increase in numbers can be attributed to that brick wall being in place, and those hoping to access their catalog will have to to pay

Salaries were also capped by Netflix for executives. However, according to The Hollywood Reporter Co-CEO Greg Peters saw his annual compensation jump from $26 million last year to nearly double next year. So shareholders of the streaming platform should be pleased with this upward trajectory.

it SEC registration would include Peters' base salary of $2.89 million, stock awards of $22.7 million, a bonus of $13.9 million and all other compensation totaling $620,602 related to the use of company aircraft.

Image: Ideogram

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