Netflix has lately had one focus only in the limelight – increasing international monthly subscription growth in its fourth quarter – which is happening through global expansions. The company announced its FY earnings on the October 14.
The monthly subscription that the company provides was initially just $8, but gradually it was taken up to $9 and when this was done, the customers were not very happy. This backfired for the TV network. Recently, it took the subscription price up again by dollar costing $10 now but this time due to the past experiences, it only did so for new customers who’ll subscribe so far, but the old subscribers are paying the old monthly amount of $9, which is smart considering what the results were in the past.
The rise in the monthly subscription did not affect the growth whatsoever and neither did any customer complained about this rise. The company has about 880,000 subscribers in just USA while globally, it has 2.70 million subscribers. This is a huge amount of users.
Inc.’s total subscribers are 69.1 million altogether, this number is increasing every day and is expected to grow immensely due to all the expansion it is planning. It has already made this a main focus for global growth, and now the only time can tell the outcome.
The Netflix TV shows are witnessing high demand by the customers even though its shows are not yet ‘in-house’, which the company is planning on doing just like HBO does. The TV shows attained 34 nominations this year. It recently expanded to Japan partnering with Fuji Media with the hope of achieving content that is enjoyed by the Japanese. It further raised the prices of fresh content in the country, in its third quarter and will further expand to Europe in its fourth quarter, according to report by MoviePilot.
Netflix has plans to expand to Korea next year, which will make a huge impact on its growth. The competitors have their eyes on the company and are holding on tightly because it will eventually become a huge threat to them.
In other news, the company attained $51,000 on one of its box office release, this might lead to the conclusion of the film being a flop but according to Bezinga, it was not expecting anything more from the film either and released it to fulfill some obligations by some contracts with the producers.
Netflix stocks closed at $98.99 on October 29, market closing.