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Netflix Adds More Subscribers, Braces for Higher Competition

In its letter to shareholders, Netflix exuded confidence of weathering the competition from Apple and Disney

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FILE - The Netflix logo is seen on their office in Hollywood, Los Angeles, California. VOA

Netflix added 6.8 million subscribers in the third quarter of this year internationally, compared to seven million it had forecast, even as the streaming giant braces for stiff competition as Apple and Disney prepare to launch similar services.

Netflix reported $5.2 billion in revenue in the third quarter, up 31 per cent over the prior year, and operating income doubled to $1 billion.

“In Q3, our guidance forecast was our most accurate in recent history,” Netflix said on Wednesday in a letter to shareholders.

The results cheered investors as shares of the streaming giant rose over five per cent in after hours trading.

“We have been moving increasingly to original content both because of the anticipated pullback of second run content from some studios and because our original content is working in the form of member viewing and engagement,” Netflix said, adding that its “Stranger Things Season 3” emerged as its most watched season to date with 64 million member households in its first four weeks.

Netflix said that it will continue to expand its non-English language original offerings because they help the company increase penetration in international markets.

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The new plans appearing on Netflix India’s website lists the weekly mobile-only plan for Rs 65, basic plan for Rs 125. Pixabay

“‘The Naked Director’ broke out as the biggest title launch for us in Japan and was also highly successful throughout Asia. Similarly, in India, we debuted the second season of ‘Sacred Games’, our most watched show in India,” the company said.

“To date, we have globally released 100 seasons of local language, original scripted series from 17 countries and have plans for over 130 more in 2020. We also plan to expand our investment in local language original films and unscripted series,” it added.

In its letter to shareholders, Netflix exuded confidence of weathering the competition from Apple and Disney.

Also Read: Uttarakhand High Court Bans the Use of Red Chilli Powder to Drive Away Elephants

“The upcoming arrival of services like Disney+, Apple TV+, HBO Max, and Peacock is increased competition, but we are all small compared to linear TV,” Netflix said.

“The launch of these new services will be noisy. There may be some modest headwind to our near-term growth, and we have tried to factor that into our guidance. In the long-term, though, we expect we’ll continue to grow nicely given the strength of our service and the large market opportunity,” it said. (IANS)

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Rs 199 India’s Mobile-only Plan a Great Success: Netflix

Netflix added 6.8 million subscribers in the third quarter of this year internationally, compared to seven million it had forecast, even as the streaming giant braces for stiff competition as Apple and Disney prepare to launch similar services

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Netflix recently introduced a binge-watching contract for couples and families to regulate the way they watch TV together. Pixabay

Ecstatic at the success of its Rs 199 mobile-only plan that it launched in India in August, Netflix is going to replicate the plan in other global markets too, the company’s Chief Product Officer Gregory K Peters has said.

The Rs 199 mobile subscription plan in the Indian market is Netflix’s fourth Indian plan, in addition to the existing basic, standard and premium plans which are priced between Rs 499 and Rs 799.

“We’ve been very, very happy with the mobile plan. It’s actually performing better than we tested. We’ll look at testing that in other markets because we think there are other markets which has similar conditions that make it likely that that’s going to be successful for us there as well,” Peters said during the streaming giant’s Q3 earnings call with analysts on Wednesday.

“We think about revenue is the guiding principle for as we do these different tests and trying to figure out, what is the right set of plans that have the right benefits, the right features that are delivered at the right price for the subscribers in any given market.

“And I think what we’re exploring is as we are operating in markets that have very, very different conditions, very different levels of affluence and other forms of entertainment competition, etc,” he added.

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FILE – The Netflix logo is seen on their office in Hollywood, Los Angeles, California. VOA

Peters said the company is also going look at other plan structures and other feature value benefits in see different market conditions.

“We’ll see them as we roll out and we’ll respond to them based on what our consumers in those markets,” the Netflix executive said.

Neflix also said the second season of ‘Sacred Games’ has been its most watched show in the country.

Also Read: Microsoft’s Corporate Venture Fund to Empower Women-led Enterprise Startups in India

“To date, we have globally released 100 seasons of local language, original scripted series from 17 countries and have plans for over 130 more in 2020. We also plan to expand our investment in local language original films and unscripted series,” said the company.

Netflix added 6.8 million subscribers in the third quarter of this year internationally, compared to seven million it had forecast, even as the streaming giant braces for stiff competition as Apple and Disney prepare to launch similar services. (IANS)