SoylentNews

takyon [soylentnews.org] writes:

Netflix has continued to add millions of new subscribers [reuters.com], even after it raised prices:

Netflix Inc snagged 2 million more subscribers than Wall Street expected in the final three months of 2017, tripling profits at the online video service that is burning money on new programming to dominate internet television around the world.

The results drove Netflix to a market capitalization of more than $100 billion for the first time. Shares jumped 9 percent to over $248 in after-hours trading on Monday after rallying throughout the month and rising 53 percent last year.

The company has signed up more than half of all U.S. broadband households and is building its customer base in 190 countries by spending billions on programming.

Netflix picked up 6.36 million subscribers in international markets from October through December, when it released new seasons of critically acclaimed shows "Stranger Things" and "The Crown" as well as Will Smith action movie "Bright." That topped Wall Street expectations of 5.1 million, according to FactSet.

Along with 1.98 million customer additions in the United States, the company ended the year with 117.58 million streaming subscribers around the globe, despite a price hike in October.

From a Bloomberg op-ed [bloomberg.com]: "The rapid pace of subscriber additions is impressive, but so is the amount of cash going up in flames."

Also at USA Today [usatoday.com] and The Street [thestreet.com].

Previously: Netflix Has More Subscribers Than Major Cable Providers in the U.S. [soylentnews.org]
Disney to Break Away From Netflix With its Own Streaming Service [soylentnews.org]
Netflix Adds 5 Million Subscribers, Doubles Profit [soylentnews.org]

Original Submission