Netflix Changes Accounting Method for Top 10 Lists; Service Will Now Show Individual Views Instead of Only Viewing Time
Netflix is running with the momentum it generated with its annual Tudum event over the weekend. The service announced this week that it is making some tweaks to the way it compiles its weekly Top 10 lists. From now on, Netflix will show browsers the number of unique views it estimates a show or movie has garnered in the past week, not just the total viewing time as was heretofore available.
Netflix’s methodology for calculating unique views for a title is fairly simple; it takes the number of hours viewed and divides it by the total run time of that title. Using this formula, the service arrived at a figure of 42.8 million views for its new original film “Extraction 2,” starring Chris Hemsworth between June 12-18.
The shift allowed for the smash-hit series “Wednesday” to move ahead of “Stranger Things” Season 4 as the most-watched English-language Netflix series of all time. “Squid Game” still resides in the top spot overall. It’s important to note that because the new Netflix method of counting viewers doesn’t account for multiple people watching a stream in the same place simultaneously, nor does it allow for repeat views by the same user to be factored in.
Netflix says it hopes this method of compiling Top 10 lists will allow shows with shorter runtimes have a level playing field with longer titles. Another of its stated goals is to show consumers and other outside observers “what success in streaming looks like more generally.” That may seem a brash statement on its face, but Netflix’s 232.5 million worldwide subscribers and its ability to show a regular profit on its balance sheet give it some leeway in expressing such confidence.
Netflix’s willingness to share a stat like total views for a show or movie is unique in the streaming industry. Most streaming services only release the number of minutes streamed for a given title, as it’s usually an impressive number that climbs into the millions or billions. Some streamers are even more reticent to share; platforms like Prime Video and Apple TV+ don’t even report subscriber numbers publicly, much less individual views for a title.
But apparently, Netflix is unconcerned about giving other streamers data they can potentially point to and say “Look, our title is beating this popular Netflix show!” That’s a confidence that comes from years of sustained success, and a current position at the top of the streaming industry that looks hard to shake. Netflix has recovered from the financial nosedive it entered after two straight quarters of subscriber losses in 2022, and its new accounting method demonstrates the self-conviction the service has gained from adversity.
Netflix
Netflix is a subscription video streaming service that includes on-demand access to 3,000+ movies, 2,000+ TV Shows, and Netflix Originals like Stranger Things, Squid Game, The Crown, Tiger King, and Bridgerton. They are constantly adding new shows and movies. Some of their Academy Award-winning exclusives include Roma, Marriage Story, Mank, and Ma Rainey’s Black Bottom.