Published: Wed, April 19, 2017
Business | By Sandy Mccarthy

Netflix about to cross 100-million subscriber mark

Netflix about to cross 100-million subscriber mark

Netflix needs to add millions of subscribers every quarter to help pay for the billions of dollars the company spends making TV shows and movies or licensing programs from others.

But, in light of big forthcoming movie releases like Will Smith-starring sci-fi film Bright, Netflix is laying the groundwork for better relations. Netflix so far has responded to the challenge by employing heavily on original productions like "House of Cards" and "Stranger Things" and marketing its service at a comparatively low price. The company's shares dipped as much as 3.5% to $141.99, after the closing bell when the quarterly results were posted last night, but opened slightly higher this morning at $147.29.

In turn the number of net additions have fallen; Netflix now expects to have 8.15 million net adds, compared to 8.42 million net adds in the first half past year.

Netflix said it expects to add 3.2 million subscribers in the second quarter-more than analysts forecasted-thanks, in part, to popular new programming that premiered near the end of the first quarter, like 13 Reasons Why and Dave Chappelle: Collection 1, which is Netflix's most-viewed comedy special ever. The company recorded a total of 4.95 million net streaming customers additions, down from 6.74 million net adds the year earlier and just off its guidance of 5 million. During which, Netflix has scored 72 million more subscribers.

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Netflix reported first-quarter customer numbers slightly below expectations, but said it still sees "gigantic" potential for global growth. It's hard to imagine that letting "consumer choose" would result in anything but an overwhelming majority of moviegoers opting to simply watch new release films on the service they're already paying (a much more reasonable fee) for. The net profit is estimated at Dollars 66 million, with the operating margin at 4.4 percent. Revenue grew 35 percent to $2.64 billion.

Analysts were expecting slower growth this quarter, after Netflix expanded to more than 130 new countries in the year-earlier period.

The multi-million member streaming service says that it is rapidly growing in Latin America, North America and Europe and is making strides in Asia, the Middle East and Africa.

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