Finance

Netflix about to cross 100-million subscriber mark

Netflix about to cross 100-million subscriber mark”

Worldwide net additions were down from 5.1 million in the previous quarter to 3.5 million.

Considering that Netflix ended its first quarter with 98.5 million total subscribers, Jefferies analyst John Janedis said the fact that the company already expects to crack 100 million this weekend means it has already significantly chipped away at its second-quarter growth guidance.

"It wasn't a strong quarter for Netflix in terms of content", said eMarketer senior analyst Paul Verna. The streaming service gained just 5 million subscribers globally in the last quarter, it said yesterday, missing the 5.3 million additions FactSet analysts predicted and the 5.2 million Netflix itself forecasted last quarter.

The company will reach that milestone this weekend if its projections are correct. The service combined almost 5 million subscribers in the initial three months of the year and will conclude March with 98.7 million customers in approximately 190 countries. During which, Netflix has scored 72 million more subscribers. It's hard to imagine that letting "consumer choose" would result in anything but an overwhelming majority of moviegoers opting to simply watch new release films on the service they're already paying (a much more reasonable fee) for.

The Los Gatos, California firm presently has a market value of around $63 billion.

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Netflix's earnings exceeded expectations, while slower-than-expected subscriber growth was offset by a better-than-expected forecast for subscriber growth in the current quarter.

For all its success, Netflix still has a ways to go before it catches up with HBO, the popular pay-TV channel that has served as its role model.

The inclination has presented Netflix with more rivalry in the contest for home entertainment budgets. Netflix so far has answered the challenge by spending heavily on original shows such as "Stranger Things" and "House of Cards" and selling its service at a relatively low price. Netflix's services extend from $8 to $12 a month, with the most economical option at $10.

Since the Google-owned YouTube has a viewership of a billion hours every day.

In Q1, the company reported USA streaming revenues of $1.5 billion and $1.05 billion coming from the worldwide market.



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