Insta
Netflix has credited high member satisfaction for this rapid growth.
Online streaming giant Netflix has seen its annual revenue jump 35 per cent to $16 billion in 2018, with its operating profit doubling to $1.6 billion in the same period, reports Television Post. Netflix has credited high member satisfaction for this rapid growth. The company has also seen its number of paid subscribers climb by 29 million to 139 million from the beginning of the year.
Average paid memberships and average selling price (ASP) saw a rise of 26 per cent and 3 per cent respectively. The company’s ASP has grown 6 per cent year-on-year if the effects of foreign exchange rate movements, which have been having a negative impact on the company’s bottom line, are excluded.
“We added a record 8.8m paid memberships (1.5 million in the US and 7.3 million internationally), higher than our beginning-of-quarter expectation of 7.6 million paid net adds. This is up 33 per cent year-on-year. For the full year, paid net adds grew 33 per cent to 29 million versus the 22 million we added in 2017,” the company’s letter to investors read.
The company predicts that its paid net additions will see a growth of 8.9 million in Q1 of the current fiscal, out of which 1.6 million will come from the US while 7.3 million will be international additions.
Netflix has stated that its multi-year plan is to keep making major investments in content growth, while expanding revenue to have better operating margins in future.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest