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Netflix approaches 150m subscribers

Netflix approaches 150m subscribers
Staff Reporter
17 April 2019

Netflix added 9.6m new subscribers in the first quarter of 2019, reaching 148.2m overall.

The streamer added 1.74 million new subs in the US and 7.86 million internationally, according to its first quarter earnings report.

The company reported total revenue of $4.5 billion for the quarter, in line with internal forecasts and consensus estimates of analysts, which was up 22% from the same quarter a year ago.

For the second quarter, Netflix is projecting that it will add another 5 million with 300,000 in the US and 4.7 million for the international segment.

Netflix says expects to see “some modest short-term churn effect” as it implements a price increase.

It also highlighted a strong slate of shows for the second half of the year including new seasons of Stranger Things, which has been dated July 4, 13 Reasons Why, The Crown, Orange Is The New Black and Money Heist as well as Michael Bay’s Six Underground and Martin Scorsese’s The Irishman.

The report also revealed that the company is actively looking for a new chief marketing officer to replace the departing Kelly Bennett. That new hire will report directly to chief content officer and pitch master Ted Sarandos.

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