Netflix added subscribers like gangbusters but it won't book as many next time

CNET | 4/16/2019 | Joan E. Solsman
AnnieFoxxAnnieFoxx (Posted by) Level 3
Click For Photo:

Netflix's Triple Frontier, an action flick starring Ben Affleck, was streamed by 52 million accounts in the first month.

US subscribers grew 1.74 million and its members abroad climbed by 7.86 million, Netflix said in a report Tuesday on its first-quarter financial performance. But it predicted the current quarter's subscriber ranks would increase by just 5 million people, roughly half of the 9.6 total members it added in the first three months of the year.

Netflix - Viewership - Originals - Heist - Movie

Netflix also touted the viewership of some of its originals. Heist movie Triple Frontier, starring Ben Affleck, was watched by more than 52 million households in its first four weeks. Umbrella Academy, a superhero drama based on a comic book by Gabriel Bá, has been watched by 45 million subscribers in its first four weeks, the company said.

Netflix's cautious outlook comes days after entertainment giant Disney unveiled its Netflix-rival service, Disney Plus. Launching in the US for $7 a month, Disney Plus will mark the company's aggressive move onto Netflix's streaming turf. Given the eye-popping catalog of shows and movies Disney plans to put on its streaming competitor, it's easy to lose sight of how dominant Netflix is likely to stay. Compared with Netflix's total subscribers surpassing TK million in Tuesday's report, Disney's most optimistic projection for its growth five years after launching will still be shy of 100 million Disney Plus members.

Letter - Shareholders - Netflix - Middle - Price

In a letter to shareholders, Netflix said it was in the middle of its price hikes in the US, Brazil, Mexico and some parts of Europe, which created "some modest short-term churn" -- jargon for people quitting.

But it downplayed the threat of new competitors like Apple and...
(Excerpt) Read more at: CNET
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!