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Netflix reflects on future in first-quarter report

Netflix have released strong first quarter financial results, with the company’s US streaming service growing by 2.25 million net members to 35.7 million.

International performance in Q1 was also strong, says the streaming giant, with membership growing by 1.75 million, bringing their international total to 12.7 million members with 72% more net additions than prior year Q1. “International revenues currently amount to 25% of our total streaming revenue and we anticipate our international segment to eventually surpass our US market, similar to other Internet firms,” reads a statement from Netflix.

There was a similarly triumphant tone concerning the growing reputation of Netflix as a hub of original content.

“We are pleased with consumer reception to our early work,” reads the statement, “as demonstrated in a Morgan Stanley survey from March, showing that 17% of respondents viewed Netflix as the service that offered the best original programming, second only to HBO, and ahead of Showtime and Starz. To have achieved this recognition in our second year of original content creation is exciting and we are optimistic about building on our initial success. “

Commenting on the competition, meanwhile, the statement mentioned the emergence of “Amazon Prime Instant Video in the UK and Germany,” but pointed out that, “since much of the content on Netflix and Amazon Prime (as well as Hulu in the U.S.) is mutually exclusive, many consumers see value in subscribing to all three networks… In general, we continue to believe that our biggest long-term competitor for entertainment time remains the MVPDs improving through TV Everywhere, as they are doing with HBO Go.”

 

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