Posted on 04/22/2020 6:40:29 PM PDT by Libloather
Netflix (NASDAQ: NFLX) reported earnings after the market close on Tuesday, and the all-important subscriber acquisitions far exceeded even the most bullish forecasts. Before the COVID-19 pandemic marched across the globe, Netflix had guided for 7 million new paying members. As the number of lockdowns and stay-at-home orders increased, however, so did analysts' growth estimates, with some exceeding 10 million. Even that wasn't enough.
The streaming pioneer added a record 15.77 million new monthly subscribers, up nearly 23% year over year, bringing its global total to 182.86 million. Domestic growth -- which had recently stagnated -- was reignited by those looking for in-home entertainment, climbing 23% to 2.31 million subscribers, or four times the net additions from Q4. Average revenue per user (ARPU) also rose, increasing by 8%.
The report wasn't all sunshine and roses. Revenue of $5.77 billion grew 28% year over year, barely edging out management's previously issued forecast. Considering the size of the subscriber beat, revenue growth was lower than many expected, but a foreign currency exchange headwind impacted results to the tune of $115 million.
(Excerpt) Read more at nasdaq.com ...
Yeah, I’d like to tell the 15.8 mil that it ain’t worth it.
They have a 30 day free promo going on right now.
I don’t watch TV but I’ve been a Netflix DVD rental customer for over ten years. Great company.
As time goes on, some of the new 15.8 million customers will drop off, as they see it isn’t worth it to subscribe.
I dropped them when they signed up the Obamas.
They sign you up for a fee then they nickel and dime you to death for rentals. Only people who don’t mind wasting money on crap stay with the service.
I got out really quick.
I sure hope so.
.
Same here and I am about to do the same with Hulu
"I threw my TV away back in 1978, never looked back."
I have never had netflix or hulu, too damn busy FReeping!
How are these 15.77 million going to pay for their high dollar cable bill with out a job?
huh? there is no better bang for your entertainment buck that Netflix.
It always shocks me just how freaking CHEAP it is! I would pay double and STILL feel like I was getting a deal. $8.99 a month? I cant even buy a coffee for that!
ROFL
Get an android box and watch on Kodi.
So...
Netflix is killing it with coronavirus.
Never let a crisis go to waste.
Must be some high up liberals at Netflix jumping for joy.
Wish they had more old TV series and movies.
Just don’t watch the Obama crap. Believe it or not, Neflix gets its revenue from whatever show or series is being streamed, unlike say CNN which gets paid regardless if you’re watching it or now, as long as you’re subscribed to cable. If it isn’t being streamed, Netflix will drop it like a hot potato. That’s what happened to Chelsea Handler and Amy Schumer.
All their content is mostly clever social engineering. A lot of it is or pretty entertaining, but I know the masses are being brainwashed by it. Drip by drip.
Heck you can see it just in a lot of the titles. All of their remakes, Documentaries etc are chocked full of it......I prefer Amazon selections overall but you still need to be careful there as well.
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