Netflix Hits 125 Million Subscribers; Makes USD 3.6 Billion In Q1 2018
The VOD company has also released its Q1 2018 financial results, which reveal that the company made $3.6 billion in streaming revenue from its 125 million subscribers.
Netflix’s revenue grew to 43% year-over-year in the first quarter, which it declared as the fastest pace in the history of its streaming business. This growth was made possible courtesy of a 25% increase in average paid streaming memberships and a 14% rise in the average selling price. In the quarter, Netflix added 7.41 million subscribers, up 50% year-over-year and ahead of its 6.35 million forecast.
The basis of Netflix’s growth is its content, which the company said it would spend up to $8 billion on in the year 2018. These contents range from a variety of formats, including series, comedy specials, films, unscripted, documentaries and non-English language pieces.
“Our job is to spend the money wisely to increase the delight of our members,” said Netflix.