Andre Yoskowitz
19 Jan 2016 23:04
Just days after announcing an expansion to 130 new countries around the world, Netflix reported record international subscriber growth.
The company announced its Q4 earnings today, bringing in $1.823 billion in revenue and $43 million in profit.
Netflix added 5.59 million new subscribers for the quarter, with 4.04 million coming from international markets. It appears that the U.S. has been saturated, as the company added just 1.56 million in the States. Notably, Netflix says it will add 6 million new international subscribers this quarter, well above estimates.
The streaming giant recently announced it will spend $6 billion this year in content, a figure that is almost as large as their annual revenue but is expected to lead to more subscribers.
Source:
CNBC