Netflix passes 125 million subscriber milestone

Virginia Carson
April 17, 2018

Netflix topped that and also said it would bring in 6.2 million more customers from April through June, 1 million more than analyst predictions.

Shares of Netflix jumped more than 7 percent in after-hours trading on Monday to $330.30. Hastings said on an earnings call.

The platform is undoubtedly seeing the results of an aggressive expansion strategy that saw it pump large volumes of money in recent years towards worldwide growth. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.69 billion.

The firm's executives admitted they were surprised by the company's rapid growth.

"We're very different from the ad-supported businesses, and we've always been very big on protecting all of our members' viewing", Hastings said. That's a growth rate of 43% year-over-year, and what NFLX describes as "the fastest pace in the history of our streaming business".

Much of that growth is now coming from overseas. However, the company added almost 2 million USA subscribers and 5.46 million internationally, compared to 1.45 million and 4.98 million.

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During the first quarter of this year, Netflix launched 18 original series, 11 new seasons for existing original series, and 14 new original movies, according to Michael Pachter, an analyst with Wedbush.

Netflix claims it will invest up on TV shows and movies from 2018.

"We're not looking to expand into news beyond the work that we're doing in shortform and longform feature documentary", Ted Sarandos, Netflix's chief content officer, said on the call.

"Given that the vast majority of Netflix's content (including the bulk of its "originals") is licensed; so long as that is true, Netflix's content spend is likely to grow in lock step with its revenue growth".

The company predicts that for the whole of 2018 it will have content expense on a P&L basis of $7.5-$8 billion.

Netflix has firmly established its service as a staple in tens of millions of households around the world by pouring billions of dollars into a slate of original programming that can't be watched anywhere else. It also reportedly coughed up $300 million to hire Ryan Murphy, the power producer behind "Glee".

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Netflix can't be stopped: the video giant posted a net income of $290m during its first quarter, up from $178m the year prior.

The decrease in Spotify's average price per subscriber will make it more hard to turn a profit, something that the company has never done since its inception in 2007. Netflix also shared that it added 5.5 million subscribers globally and 2 million subscribers in the U.S. during the period.

The number of subscribers in the United States is continuing to grow, suggesting that Netflix is still not approaching market saturation.

Netflix faces increasing competition from Amazon and Disney, which have their own offerings, as well as traditional media companies and technology companies such as Apple.

Netflix also said it continued to invest in non-English originals like "O Mecanismo, ' a drama TV series that it says is tracking to be one of its most viewed originals in Brazil, during its first quarter". The total is nearly a million more than Wall Street analysts predicted Netflix would reach by this time.

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