Number of paid subscriptions to Netflix growing strongly
Streaming giant Netflix attracted a surprising number of new customers at the end of the year thanks to series and movie hits such as "The Witcher" and "The Irishman". The number of paid subscriptions rose by 8.8 million worldwide in the three months to the end of December, the online video service announced on Tuesday after the US stock exchange closed.
Netflix thus exceeded its own forecast and also market expectations. At the end of the quarter, the company had a good 167 million paid memberships.
However, Netflix continues to struggle in its US home market, where Hollywood giant Disney and Apple have also recently launched streaming services.
Only 423,000 subscribers were added in the fourth quarter. This was significantly less than expected, which put the share under some pressure in the after-hours trading. Netflix also fell short of expectations in its outlook for the current quarter with a global increase of seven million customers.
Profit and revenue surprised positively in the final quarter. Netflix achieved a surplus of 587 million dollars. In the corresponding period of the previous year, the company had earned only 134 million. Revenues grew to 5.5 billion dollars - a significant increase of 31 percent year-on-year.
Last week, 24 Netflix productions received Oscar nominations. The streaming service thus outshone all other studios. (SDA)
