Netflix netted 8.3 million new streaming subscribers in Q4 2017 — almost 2 million in the US and 6.36m around the world. The streaming giant attributes its growth to the strength of its original content with The Crown, Black Mirror, and Stranger Things all featuring as content in the quarter.
- Over the course of 2017, Netflix added 24m new members, compared to the 19m added in 2016, as growth continues to accelerate.
- Financially, Netflix saw its revenue rise to almost $3.3bn in the fourth quarter – a year-on-year (YoY) increase of nearly 33%.
- Meanwhile, net income sat at $186m for the quarter – up from $67m from 2016 and despite writing off $39m for ‘unreleased content’.
- Netflix expects to add 6.35m users globally – 1.45m in the US and 4.9m in the rest of the world – this quarter.
- Netflix also plans to spend between $7.5bn and $8bn on content in 2018, as well as invest in development and technology to the tune of $1.3bn.