Business Technology

Netflix Annual Revenue Increased by Three Times

Netflix, the rival to beat in the distribution of audiovisual content on the Internet, closed the year with 117.6 million subscribers worldwide that generated revenues of 11.7 billion dollars. It’s an improvement of 32%. This progression allowed him to triple the benefit to 560 million. Its shares appreciated close to 9% and placed its capitalization in excess of 100,000 million.

The Netflix streaming service added 8.3 million subscribers in the fourth quarter thanks to the premieres of own productions such as Stranger Things or The Crown . Of the new subscribers, 6.36 million correspond to the international market, which has 62.8 million customers. This expansion of the global user base is greater than that anticipated by Wall Street analysts.

It is not only that you have more subscribers, you also consume more. The time they spent in the service grew by 9%. Netflix will invest 8 billion in its own content this year. The results show loads of 39 million for programs that will not broadcast, which includes the specials of comedian Louis CK and a movie with Kevin Spacey after breaking up with them for their sexual behavior.

The results of Netflix correspond to the quarter in which the conglomerate Walt Disney announced the purchase of entertainment assets of Twenty-First Century Fox, which will give it majority control over Hulu. The Disney group is in the process of developing its own streaming service , which will begin operating in 2019. Six months ago it announced that it will withdraw its content from Netflix.

Reed Hastings, its CEO, takes advantage of the presentation of results to charge against the decision of the agency that regulates communications to deregulate Internet access. That is why he explains that it is added to the legal action undertaken by other companies in the technological sector against the measure. Prosecutors from several states and members of Congress also try to combat the new legislation.

About the author

Angela Nagata

Angela Nagata is a reporter for De Lune. After graduating from NYU with a master degree in history,Angela got an internship at WABC-TV New York and worked on profiling local businesses across the city.

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