Tuesday, 23 January 2018

Netflix took over $11bn in streaming revenue in 2017

"New subscribers drawn in by shows including Stranger Things, Bright and The Crown helped push the valuation of Netflix past $100bn on Monday for the first time.
Releasing its latest quarterly figures the video streaming service announced it had added 8.33 million subscribers in the three months to the end of December.
The company signed up 6.36 million subscribers internationally, well above the average analyst estimate of 5.1 million, according to data and analytics firm FactSet.
Netflix’s shares reached a record at $227.79 during regular trading on Monday, valuing the company at $98.4bn, and rose 7.8% after hours, comfortably pushing its value past $100bn.
The rising star to look out for at the Oscars? That’ll be Netflix…
“We had a beautiful Q4 [fourth quarter], completing a great year as internet TV expands globally. In 2017, we grew streaming revenue 36% to over $11bn, added 24m new memberships (compared to 19m in 2016), achieved for the first time a full-year positive international contribution profit, and more than doubled global operating income,” the company wrote in a letter to shareholders."
Source:  The Guardian, 22nd January 2018

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