Netflix Is Now Home To 125 Million Subscribers

17 April, 2018, 18:55 | Author: Terri Saunders
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The company estimates it will add a total of 6.20 million subscribers during its second quarter.

Stocks of Netflix jumped more than 7 percent in after-hours trading Monday to $330.30. But Hastings also said that the company hadn't changed its view on expanding in China, and will continue to license content.

Netflix completed its price adjustment during this past quarter, resulting in 12% ASP growth for the domestic segment.

Expectations were high heading into Netflix's earnings report. Executives said on a conference call that the "new wave" of operator partnerships was a consistent shift across all geographic markets. We've got some great momentum and we're very excited about that.

Netflix added about 8.3 million net new subscribers in the fourth quarter of 2017 after it predicted it would add 6.3 million.

The California-based company reported first-quarter revenue of $3.7 billion, an increase of about 40% year-over-year and slightly more than the $3.69 billion projected by analysts polled by Thomson Reuters.

Netflix expects to have 700 programs available for customers in 2018. Netflix's plan includes 80 original movies and 80 original foreign-language productions, along with a multitude of new episodes of existing and new English-language programming and one-off specials.

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As to the recent bundling of Netflix into the pay-TV operations of Comcast and Sky, Gregory Peters, Chief Product Officer, said: "We love the fact that we can work with these partners to access whole new groups of consumers, make it easy for them to find out about Netflix, to sign up and have a great way to access the service and watch more and more".

All that original content doesn't come cheap. $1,447.83 million flowed into the stock on the tick-up and $1,319.05 million flowed out of the stock on the tick-down, for a money net flow of $128.78 million into the stock. Netflix ended 2017 on a high note, reporting higher global net adds than in any other quarter (+6.4mn).

"The variance relative to our guidance was driven by continued strong acquisition trends across the globe which we attribute to the growing breadth of our content and the worldwide adoption of internet entertainment", Netflix said in its statement.

Reed Hastings' comments come shortly after a report was released stating that licensed content (like full seasons of Grey's Anatomy and Breaking Bad) is way more popular with subscribers than original content, and the numbers were rather shocking considering the emphasis Netflix places on original series.

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. Revenues lifted to Dollars 1.82 billion from 1.47 billion in the U.S. and to USD 1.78 billion from 1.04 billion elsewhere.

Monday, the company said these deals benefit Netflix with "more reach, awareness and often, less friction in the signup and payment process".

The belief among analysts like Deutsche Bank's Brian Kraft is that Netflix has too much of a head start to lose now.



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