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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.

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“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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Reliance Jio Grabs Top Subscription Base Despite Voice Call Charges

The total number of wireless telecom subscribers rose to 118.34 crore in October from 117.37 crore in September

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Total wireless subscribers (2G, 3G and 4G) of Reliance Jio increased from 1,173.75 million at the end of September 2019 to 1,183.40 million at the end of October 2019, thereby registering a monthly growth rate of 0.82 per cent. Wikimedia Commons

Reliance Jio added over 91 lakh new subscribers in October, taking its total subscriber base to 36.43 crore, according to data released by the Telecom Regulatory Authority of India (TRAI).

Interestingly, this increase in the number of subscribers for Jio comes although in the same month it announced to charge calls to other operators.

Reliance Industries (RIL), the parent company of Jio on October 9 that it will charge customers 6 paise per minute for voice calls made to other networks to compensate for the interconnect fee.

Further, Bharti Airtel and Vodafone Idea also added to their subscriber base, which have for some time now have mostly reported loss of subscribers.

India’s largest operator in terms of subscribers, Vodafone Idea added nearly 1.9 lakh new customers during the period under review to its overall tally to around 37.27 crore. Around 81,974 subscribers were added by Bharti Airtel and its subscriber base by the end of October stood at 32.56 crore.

The total number of wireless telecom subscribers rose to 118.34 crore in October from 117.37 crore in September, the data showed.

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Reliance Jio added over 91 lakh new subscribers in October, taking its total subscriber base to 36.43 crore, according to data released by the Telecom Regulatory Authority of India (TRAI). Wikimedia Commons

“Total wireless subscribers (2G, 3G and 4G) increased from 1,173.75 million at the end of September 2019 to 1,183.40 million at the end of October 2019, thereby registering a monthly growth rate of 0.82 per cent,” said the TRAI statement.

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“Wireless subscription in urban areas increased from 659.18 million at the end of September 2019 to 662.92 million at the end of October 2019, and wireless subscription in rural areas also increased from 514.56 million at the end of September 2019 to 520.48 million at the end of October 2019. Monthly growth rates of urban and rural wireless subscription were 0.57 per cent and 1.15 per cent respectively,” it added. (IANS)