Despite a massive drop in its profitability, Netflix managed to add more than 3 million subscribers last quarter and was handsomely rewarded by Wall Street traders.
Netflix announced total revenue of .
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48 billion, which was a nearly 30 percent increase over the same period last year. Net income, however, plummeted more than 60 percent year-over-year.
Global Netflix subscribers surpassed 65 million, with more than 2 million new international subscribers coming on board last quarter. Netflix’s profitability plunge can be attributed to increasing content costs and expensive international expansion.
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Netflix’s CFO, David Wells, says the international bleeding isn’t done yet:
“We expect those losses to grow through the year, [with] international losses peaking next year,”
Is Netflix’s massive drop in profitability a speed bump or an increasingly large obstacle?
[via Home Media Magazine]
The only saving grace for Netflix is because they focused on global expansion while domestic subscribers are dropping Netflix like I did when I went to streaming direct, who needs to pay Netflix once the streaming revolution has begun and everyone is moving to the streaming alternative over cable and dish, and in due time, Netflix along with all the others will see profits vanish. It is just a matter of time that the masses will discover free streaming alternative over pay to play streaming such as Netflix model along with Amazon, HBO, Showtime and all the other recent converts to streaming TV. It is fun to watch these giants in the industry get blind sided by the subscriber fee free era. lol
NetFlix is still the king.. And not going anyplace soon..
Free Streaming will never really happen….
Some think it will. But it will never happen..
Yes you can get all kinds of stuff for streaming free. BUT
Nothing like NetFlix, Hulu, Warner Archives. Free Streaming will never be like them..
Plus, most other streaming services are live, with no option to pause, rewind or play later or skip commercials. I’m out. I’ll stick with Netflix as long as they are commercial free.I have a DVR for OTA & do not watch commercials.