Netflix recently announced its earnings report for the fourth quarter of 2018, and it sure does look good!
Increase In Revenue, Great Performance
For the last quarter of 2018, Netflix managed to bring in revenue worth $4.2 billion and a net profit of $134 million. Compared to the same quarter from 2017, net income did fall, whereby Netflix managed to fetch $186 million of net profit on $3.3 billion of revenue. While the streaming platform saw a fall in year-on-year profit, it did see a rise in year-over-year profit.
During 2018, Netflix grew its revenue by 35 percent to $16 billion, and almost doubled its operating profits. Meanwhile, its net income grew to $1.2 billion for the year, compared to $558 million made in 2017, which is an almost 100 percent increase. On top of that, the company saw 8.8 million people join its paid membership, of which 7.3 million came from markets outside of the US. This represents a 33 percent increase year-over-year and allowed Netflix to end the year with 139 million paying members. Throughout the year, an estimated 29 million individuals signed up for its paid service.
Netflix is also beginning to enjoy success from its original movies as well as series, with one of the most popular being Bird Box. An estimated 80 million members viewed the post-apocalyptic horror film during the first four weeks of its release. Other popular titles include Elite, Sex Education, and Bodyguard, whereby they garnered 20 million, 40 million, and 23 million views respectively within four weeks of being released. The media provider is also investing in productions across the world, especially in Asia. In 2019, there will be 100 new and returning originals across eight Asian countries. Also, 17 new Asian originals will be produced and they’ll hail from Japan, Taiwan, South Korea, and India. The company is also trying to expand its reach, and in order to do so, they’ve partnered with companies around the world to offer its bundle packages. Some of the media companies they’ve partnered with include KDDI, Telefonica, Comcast, T-Mobile, Sky, and Free.