Despite slower growth than it had initially anticipated during the the first quarter of the year, Netflix added 4.95m subscribers. The streaming firm blame the slowdown/drop partly on how it shifted some of its popular shows to the second quarter of the year, with the House of Cards series being one representative of this having been pushed into Q2 of 2017. Regardless though, Netflix is still expected to add 8.15 million new members in total for the first half of 2017 which is slightly under what they managed to rack up in the same period last year. With this the chief executive Reed Hastings has said that the opportunity that the firm has still remains as 'gigantic' and that it'll 'continue investing in films and shows aimed at increasing its membership.' Original programing is what seems to be the focus here since Netflix's own shows such as House of Cards and Stranger Things are their true 'big hits.'
- The streaming firm added 4.95 million new subscribers in the quarter, fewer than the 5.2 million it had forecast
- In the US, the firm added a third fewer new members than the same period a year ago, while overseas members fell 22%
- The firm increased revenues by over a third to $2.64bn for the quarter compared to the first three months of last year, while net income rose to $178m from $28m
Netflix's growth as represented in this article regardless of a slowdown or not, just serves as testament for how even the traditional media platform of TV is being placed under threat by new and digital media. Internet TV is on the rise through streaming platforms and since you can watch shows offered on TV on them in conjunction with for example Netflix-own content, they become a lot more of a desirable platform to turn to.
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