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from the original-content-for-the-win dept.
Netflix's foray into original content is paying off:
[Rather] than pay money out to studios for the right to show existing content, it instead ploughed its cash into shows such as Stranger Things, The Crown, Luke Cage and the remake of Gilmore Girls. In 2016, those "Netflix Originals" - already a term you could argue has become synonymous with quality - came thick and fast. The firm said it produced 600 hours of original programming last year - and intends to raise that to about 1,000 hours in 2017. Its budget to achieve that is $6bn - a billion more than last year.
On Wednesday we learned the company has been rewarded handsomely for putting its eggs in the original content basket. After hours trading on Wednesday saw the company's stock rise by as much as 9% on the news it had added 7.05 million new subscribers in the last three months of 2016. That's far greater than the 5.2 million they had anticipated, and left them ending the year with 93.8 million subscribers in total - and an expectation of breaking the symbolic 100 million mark by the end of March. In all, 2016 saw Netflix take in $8.83bn in revenue - with a profit of $186.7m.
Also at USA Today, TechCrunch, and Reuters.
Previously: Chris Rock Reportedly Signs $40 Million Deal With Netflix for Two Comedy Specials
Netflix Throws In the Towel On China
Netflix Lets Users Watch Videos Offline -- No DVDs Required
(Score: 3, Interesting) by bob_super on Thursday January 19 2017, @10:55PM
With the end of Net Neutrality, and perfectly-legal 3GB/month data caps on non-ISP-approved services, Netflix will die fast.
Comcast and friends will get back to selling their Fabulous 5Mb/s Mega-Speed Deal for the CMOT price of $199.99 a month (plus fees, plus rental, plus taxes).
All will be well in Great America.
(Score: 0) by Anonymous Coward on Friday January 20 2017, @12:49AM
Didn't you geezers learn anything from that kid? Data caps are meaningless.
Free data is all around you, bob, just use your super skillz to reach out and grab it!
[posted from xnfinitywifi]
(Score: 3, Insightful) by isostatic on Friday January 20 2017, @09:28AM
With the end of Net Neutrality, and perfectly-legal 3GB/month data caps on non-ISP-approved services, Netflix will die fast.
The world is a far bigger place than Trumpton.