Published By : 23 Jan 2018 | Published By : QYRESEARCH
Over the past quarter, Netflix has added 8.3 mn subscribers, a record till date. With this, Netflix closed the year 2017 with 117.58 mn subscribers streaming videos all across the world. In terms of clear additions, this is the firm’s biggest quarter till now, exceeding the addition of 7 mn subscribers in the Q4 of 2016. The American entertainment giant attributed this rise to the constant uptake of online content, worldwide, and the originality of the content, it offers. During the Q4, 2017, Netflix released several new seasons of its own shows, such as The Crown, Stranger Things, and Black Mirror, which instantly become big hit among viewers. It also presented Bright, the Will Smith-starrer fantasy action movie, which also contributed substantially in increasing its subscriber pool.
Of the addition of the 8.3 mn during the quarter, nearly 2 mn additions were from the U.S., its home market, and more than 6 mn were from the International markets. The paid subscriber base of Netflix has grown from 6.62 mn to 110.64 mn subscribers during this quarter. 1.46 mn additions were from the U.S. market while the 5.15 mn came from the International markets. The enterprise reiterated its plan to spend US$7.5-US$8 bn on content and increase its investments in technology and development to around US$1.3 bn. It is also raising the marketing expenditure to nearly US$2 bn in 2018 from the existing US$1.3 bn. “This is so because their testing results show that this is wise,” a source close to the company revealed.