Number of Netflix users rises by 7 million

Oct

17

2018

Netflix gained 7 million users last quarter. In contrast to last quarter, the growth was higher than the company expected. Netflix further criticized the quota for European content.

Netflix received 7 million new users in the past quarter, of which 6 million were paying. That was 31 percent more than the 5.3 million new users in the same quarter last year and also more than the 5 million Netflix had expected. The higher than expected growth occurred according to the company in all markets worldwide.

For the coming quarter, Netflix expects to be able to add 9.4 million new users, 7.6 million of which are paying. That would be 13 and 15 percent more than last year. In total, Netflix now has 130.42 million paying customers.

Netflix attributes the growth to the addition of new videos and these investments are made possible by the price increase according to the company. “We anticipate that this will continue for many years in the future,” the company said in an explanation of the quarterly figures . The company says it has to continue to stand out, with major competition from Disney, Apple and Amazon coming.

In addition, Netflix reports that the European Union requirement can be met by at least 30 percent local videos, but the company does not like such measures: “Quotas, irrespective of the market size, can have a negative effect on both customer experience and creativity.” According to Netflix, countries need to encourage the creation of local content, regardless of the distribution channel.

Netflix ‘quarterly revenue increased by 34 percent to 4 billion dollars.

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