Magazine article Screen International

Netflix Q1 Subscriber Growth Falls Short of Expectations

Magazine article Screen International

Netflix Q1 Subscriber Growth Falls Short of Expectations

Article excerpt

Netflix beat earnings expectations as it announced Q1 results on Monday, although subscriber growth lagged behind.

Net income grew year-on-year from $27.7m to $178.2m, revenues vaulted 35% to $2.64bn, and earnings reached 40 cents a share.

However the service added fewer new members than anticipated: 3.53m international streaming subscribers and 1.42m US streaming subscribers.

Netflix had expected to add 5m global subscribers. The worldwide total stands at 98.75m.

In a note to shareholders, CEO Reed Hastings threw down the gauntlet to theatre owners.

"We are also open to supporting the large theatre chains, such as AMC and Regal in the US, if they want to offer our films, such as our upcoming Will Smith film Bright, in theatres simultaneous to Netflix," Hastings said. "Let consumers choose."

Hastings said the company anticipated "better economics relative to licensing movies under traditional windowing".

The executive said that Siege Of Jadotville and Adam Sandler's Sandy Wexler had been successful in this way, although Netflix never releases verifiable data or success metrics that can be analysed by outsiders. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.