Netflix reaches 148 million subscribers worldwide

Anca Alexe 17/04/2019 | 11:29

Netflix added a record 9.6 million subscribers in the first quarter of 2019, according to its latest financial report, and reached a total of 148.8 million subscribers at a global level, of whom 60.2 million are in the US.

The streaming company’s profit in Q1 2019 rose to USD 344 million, from USD 290 million in Q1 2018. Revenue increased by 22 percent, to USD 4.5 billion.

Netflix expects to add 5 million subscribers in the second quarter while it also increases prices, but its growth could be affected by the new streaming services that will be launched by Apple and Disney later this year.

In its letter to shareholders, Netflix wrote that it doesn’t think these new services would “materially affect our growth” because transitioning from “linear to on demand entertainment is so massive” and “because of the differing nature of our content offerings.”