Netflix’s revenues surge as it passes 100m members

By Prasun Bose

Netflix’s second quarter figures for 2017 revealed that the streaming platform has passed the 100 million global subscriber mark.

In financial terms, the growth has resulted in a 32% rise in second quarter revenues to $2.8bn, with that number expected to reach $3bn in the third quarter.

Profits for the three months leading up to June were $65.6m, up roughly 60% year-on-year.

While it has added over a million subscribers in the United States, the biggest gains made by the Los Gatos-based company have been overseas.

See also:


Efforts to push its service to an international audience have worked as they increased their non-U.S. subscription base by over four million. Over half its members are now international.

The figures exceeded expectations in a quarter that has historically been the company’s slowest, as it recognised in its earnings report.

“In Q2, we underestimated the popularity of our strong slate of content which led to higher-than-expected acquisition across all major territories,” Netflix said.

Shares in the company rose by more than 10% in the hours after the figures were announced.

Share

Featured Articles

How Elon Musk pulled off a $44bn hostile takeover of Twitter

As the world’s richest man, Elon Musk, takes over tech giant Twitter, we highlight the timeline that led to this titanic takeover

Amazon, Alphabet, Wells Fargo best workplaces, says LinkedIn

The top 50 workplaces to grow careers prioritise flexible work and tuition-support programs, as top-ranking firms Amazon and Alphabet prove, says LinkedIn

Top 10 women in technology in the US

These 10 women in tech are forging a path into bold areas of innovation and technological ambition, according to sister publication Technology Magazine

8 executive moves to crypto – from mainstream to startup

Technology & AI

Digital Twins tech ‘missing link’ in urban decarbonisation

Technology & AI

The Metaverse Foundry from Infosys is a business playground

Technology & AI