Netflix had an amazing 1st quarter 2018 beating Wall Streets expectations. Yesterday Netflix announced their 1st quarter 2018 results and it was impressive.
- Revenue: $3.7 billion
- Total streaming net adds: 7.41 million
- Domestic streaming net adds: 1.96 million
- International streaming adds: 5.46 million
- Free cash flow was negative $287 million.
Netflix said they also expect to spend $7.5 billion to $8 billion on content this year. This is very similar to what Netflix has spent in recent years. “We’re investing in more marketing of new original titles to create more density of viewing and conversation around each title,” Netflix said in a statement.
Netflix did open up about their news plans but mainly to try and clear up rumors that have been out there. “Our move into news has been misreported over and over again. We’re not looking to expand into news beyond the work that we’re doing in long-form and short-form documentary,” said Chief Content Officer Ted Sarandos. “Topical interview shows, absolutely, but keep in mind, those are entertainment.”
Netflix had a strong 1st quarter 2018 the question now is can they maintain this growth through 2018.
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