Netflix global subscribers soar

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Netflix has added 3.2 million international customers in the last three months, far more than the 2 million analysts had predicted.

In the US, numbers rose 21% as hit shows such as Stranger Things and Narcos won over more subscribers.

That helped quarterly revenues rise 31.% to $2.29B ($AU2.98B), sparking a 20% jump in Netflix’s share price.

In the three months to the end of September Netflix had about 83.3 million global subscribers.

Netflix has a strong presence in more than 130 markets worldwide, except in China where it plans to license to local online providers for the immediate future.

Netflix CEO Reed Hastings told shareholders: “As discussed, for the balance of 2016, we will continue to operate around break even, and then start generating material global profits in 2017 and beyond, by marching up operating margins steadily for many years.”

But he also noted, “We presume that Amazon Prime Video will become as global as YouTube and Netflix this fall with the launch of the Jeremy Clarkson show. Our challenge is to continue to improve our service and content so that we better meet consumer desires. Total screentime is quite large and growing as technology and content improve globally.”

Source: BBC

5 Comments:

  1. Netflix is a good example of how profitable it is offering a flexible system of programming that is easily accessible and affordable whilst not costing an arm and a leg to view. Now we will have to see what direction Foxtel will choose to go in the future.

  2. Just watched Stranger Things. Can’t believe I waited so long to view it. Absolutely loved it. It’s risks like this show that separates it from the rest.

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