Netflix to Release Viewership Report Once a Year

Netflix will issue its "What We Watched" report once a year rather than twice, the company stated in an investor letter released Thursday. The report has listed viewership figures for thousands of titles since December 2023. The next edition will now appear once annually.

The company said separating the report from quarterly earnings will direct focus toward revenue and operating profit. It previously stopped releasing subscriber counts every quarter in April 2024 for the same stated reason. Netflix is not required to publish either data set. Several competitors release little or no comparable information.

Street has raised questions about declining time spent on Netflix titles. A Bloomberg analysis this month used the company's own figures to show sharp second-season drop-offs for some major shows. Netflix stated that its engagement metrics remain strong relative to peers and that quality of engagement matters more than total hours viewed.

The word "engagement" appeared 13 times in Thursday's letter. Netflix stock has fallen 40 percent over the past year. The company abandoned a proposed $83 billion acquisition of Warner Bros. Discovery earlier in 2026.