Well, it looks like Netflix had a great 4th quarter in 2017. Earlier today Netflix announced their 4th quarter 2017 results.
The best news for Netflix was that revenue beat expectations and topped $3.29 billion vs the $3.28 billion expected. The good news kept going from there as Netflix added 1.98 million new subscribers in the United States vs the 1.29 million expected.
When you look at the worldwide numbers outside the US the numbers look even better. Overall Netflix added over 5.05 million subscribers helping Netflix continue their dominance in the world of streaming. In total Netflix had 8.33 million new streaming subscribers beating the expected 6.30 million expected new streaming subscriber numbers. Netflix also for the first time topped a $100 billion market capitalization for the first time after better than expected 4th quarter results.
Netflix went on to say it plans to spend $7.5 billion to $8 billion on new content in 2018. “We believe our big investments in content are paying off,” the shareholder letter said.
This all comes as Netflix recently raised their prices and is facing new competition from old names. Fox recently pulled most of their shows and moved them to Hulu. Disney has announced plans to pull their programming in 2019 as they plan to launch their own video on demand service in 2019. For now, though none of these seems to be worrying Netflix as they continue to see better than expected numbers.
Please follow us on Facebook and Twitter for more news, tips, and reviews.
Need cord cutting tech support? Join our Cord Cutting Tech Support Facebook Group for help.