Netflix reports its best ever Q3’s earning
Netflix’s business is strong and growing fast over the third quarter of 2019, according to the company’s Q3’19 earnings report.
Netflix’s business is strong and growing fast over the third quarter of 2019, according to the company’s Q3’19 earnings report.
This was Netflix’s best ever Q3, with paid membership increasing by 6.8 million (12 per cent year-on-year) to 158 million. Up to 6.3 million in new membership growth this quarter came from outside of the US, a 23 per cent year-on-year increase. US growth is slower due to higher churn after our price increases, said the report.
Netflix’s Q3 revenue grew to US$5.2 billion, a 31 per cent year-on year-increase, and operating income doubled to $1.0 billion.
Netflix said that the company has been moving increasingly to original content across many genres, because it works in the form of member viewing and engagement. It had a record-breaking season in Q3 for Stranger Things (the most watched season to date with 64 million member households in its first four weeks) as well as success with new limited series like the thought-provoking Unbelievable (watched by 32 million member households in its first 28 days).
The company also expanded non-English language original offerings as they help grow its penetration in international markets, which account for 90 per cent of its growth.
In October, the company localised its service in Vietnamese (as well as Hungarian and Czech) so that more entertainment fans can enjoy thousands of hours of TV shows and films in their preferred language. It will continue to expand language coverage and accessibility. — VNS
