Netflix on the verge of hitting 100 million subscribers

Robyn Valdez
April 20, 2017

However, the company said it had 98.75 million subscribers globally at the end of March and expected to cross the 100 million mark this weekend.

In its first-quarter earnings release late Monday, Netflix Inc.

The streaming giant had forecast an addition of 5.2 million new subscribers from January through March 2017, compared with 6.74 million added during those three months a year ago.

Over the past ten years what really did it for Netflix was the emergence of phones and tablets that enabled people to watch videos with mobility, said Wedbush Securities analyst Michael Pachter. Hastings also made it clear that unlike Amazon Prime Video, Netflix has no intentions of getting into live streaming of sporting events.

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As far as the first quarter is concerned, The company managed to bring 1.42 million domestic and 3.53 million worldwide subscribers to its ranks.

Dwelling on the subscriber guidance, the analyst said the company's domestic subscriber guidance of 0.6 million was ahead of his estimate of 0.21 million and the consensus estimate of 0.19 million.

For the last several years we've had flat operating margins due to established markets funding global expansion with every spare dollar we had. In addition, the company added 1.42 million streaming subscribers domestically, and added 3.53 million in the rest of the world. Netflix, based in Los Gatos, California, has lined up a slew of high-profile releases in the coming months, including new seasons of "House of Cards", "Orange Is the New Black" and "Master of None". In today's time, its stock has increased from $US1.90 to $149.15.

Netflix added 1.42 million domestic subscribers, slightly below guidance and consensus of 1.5 million, and directionally consistent with Baird's quarterly USA survey which had suggested potential US weakness.

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He recalled investor fears a few years ago that Netflix - like AOL before it - would hit "the 30-million sub wall". Netflix's subscriptions range from $8 to $12 per month, with the most popular option at $10.

He said Netflix is also dealing with other competitive forced. Netflix had previously frozen prices for millions of subscribers at 2014 levels. As part of that, it plans to invest more in programmatic advertising and work more with its growing group of pay-TV provider partners, such as Comcast, Charter and Liberty Global.

Announcing its performance, Netflix said that it had generated somewhere around $2.64 billion in revenue and $0.41 earnings per share for the fourth quarter of 2016.

As it is, Netflix expects to spend about $6 billion on programming this year.

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