Netflix ended the fourth quarter of 2016 with a bang by adding more than 7 million subscribers across the globe, which greatly exceeded its own projections. Netflix also hit $2.35 billion in revenue, up from $1.67 billion last year.
Netflix’s impressive Q4 subscriber additions included nearly 2 million in the U. S. and 5.12 million abroad. Overall, Netflix stood at nearly 94 million subscribers at year’s end, an increase of more than 25 percent from the end of 2015.
Netflix CEO Reed Hastings and CFO David Wells were particularly proud of the company’s international subscriber growth:
“Over 47% of our total members are now outside of the U.S. This growth was very broad based geographically as our original content continues to be well-received all over the world,”
As Netflix becomes a truly global entertainment powerhouse, can any of its rivals hope to catch up?
[via Home Media Magazine]