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Netflix Reaches 137 Million Subscribers, Sends Stock Prices Skyrocketing

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Netflix, the world’s favorite streaming service, has skyrocketed in subscriber growth for the 2018 third quarter. In the second quarter, subscriber rates took a downturn which dramatically reflected in stock trading after the report was released. However, Netflix is once again on the up and up, with almost 12% increase in stocks and unprecedented subscriber additions.

Netflix Is Officially Over The Spring “Speed Bump”

In the spring of this year, Netflix failed to reach their projections in subscriber count, which resulted in a significant drop in stock price for after-hours trading. This undoubtedly motivated Netflix to recoup in quarter three, in order to prove that the dip was an unfortunate blip in the radar, not a downward trend.

Digital Trends

GBH Insights technology analyst Daniel Ives commented, “After handily blowing away Street expectations on subs in the last few years, this is a clear speed bump for Netflix…” He noted that the stagnation in international subscribers was most concerning, as Netflix’s main growth objectives focus on international sales. However, quarter three proved Netflix didn’t have to worry about international growth.

Investors Celebrate Strong Q3 Growth

Netflix projected 5 million net subscribers for the third quarter but exceeded that by 2 million. Of the 7 million, 5.87 million were international. Netflix now has a total of 137 million subscribers around the world.

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Netflix also exceeded analysts’ estimates for share earning in the third quarter by 21 cents. Stock prices were driven up 12% to $388.49 in after-hours trading after the quarter three report was released. Their streaming revenue of $4 billion matched Wall Street’s projections.

What’s Next For Netflix?

CEO Reed Hastings confirmed that Netflix’s plan for 2019 focuses heavily on original content, giving the company control over distribution and growing consumer loyalty for the service. Because of this increased focus on original content, they recently acquired a studio in Albuquerque, New Mexico to produce more high-quality shows and films.

Charger Bulletin

Some of Netflix’s most popular original shows and movies include Disenchantment (created by Matt Groening, creator of The Simpsons and Futurama), Big Mouth, Bojack Horseman, and F is for Family. Hastings promises more quality shows and romantic comedies like To All the Boys I’ve Loved Before in 2019.

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