Netflix growth misses mark despite strong earnings: HumSub.TV
Netflix growth misses mark despite strong earnings: HumSub.TV: Netflix subscriber growth missed its mark in the first quarter of this year, but the on-demand television star expects to hit the 100-million milestone this weekend.
Along with posting strong earnings on Monday, US-based Netflix reported a net increase of 4.95 million subscribers, most of those overseas where it has been investing in becoming a global entertainment network.
In comparison, Netflix gained 7.05 million subscribers in the prior quarter, raising expectations in the market.
“We have come to see these quarterly variances as mostly noise in the long-term growth trend and adoption of internet TV,” Netflix said in a letter released along with the earnings figures.
Netflix finished the first quarter of this year with 98.75 million subscribers and predicted that its ranks would crest 100 million this weekend.
“That is a bit accomplishment,” Netflix chief executive Reed Hastings said during a video briefing with analysts.
“We are super excited.”
The company expected it would add about 8.15 million subscribers overall during the first half of this year as compared with 8.42 million in the same period in 2016.
Netflix shares dipped and then rose in after-market trades that followed release of the quarterly earnings figures, eventually gaining more than a percent to reach $149.25.
Executives declined to reveal details about viewing trends at Netflix, but Hastings disclosed that people watch more than a billion hours’ worth of shows weekly at the service while Google-owned YouTube boasts that much viewership daily.
“We definitely have YouTube envy,” Hastings said.
“We are a little over a billion viewing hours a week, and YouTube has a billion a day so we have a ways to go to catch up.”
He downplayed competition, saying “entertainment is not a zero-sum game” and it is more about winning fans with content in the on-demand viewing market.
Netflix has no interest in getting into the live television streaming game, so is not facing off with services such as PlayStation Vue, DirecTV and YouTube TV, according to executives.
Hastings saw Netflix and rival Amazon Prime Video as competing more with people’s limited viewing time than they are with one another.
Both Amazon and Netflix have been investing heavily in original programming to win subscribers to their on-demand video services.
Netflix reported profit of $178 million on revenue of $2.64 billion in the first three months of this year as compared with net income of $28 million on revenue of $1.96 billion in the same period a year earlier.
The company described the opportunity for its service as “gigantic” and said it planned to continue investing in films and shows tailored to win fans in countries around the world.
“With a growing member base spread across the world, we seek to please diverse tastes with a wide breadth of content,” Netflix said.
“A bet on Netflix continues to be a bet on continued high growth, something which certainly isn’t guaranteed,” Jackdaw Research analyst Jan Dawson said in an online note.
Netflix growth misses mark despite strong earnings: HumSub.TV
About HumSub TV
Introduction
HumSub TV is Pakistan’s leading forwarding-thinking, edutainment channel, aimed at promoting and upholding peace, interfaith harmony and social responsibility within Pakistan through informative and insightful programmes and documentaries; analytical interviews on issues pertaining to social, economic, legal and environmental set-up; dedicated shows to canvass and thereby promote the culture and heritage of Pakistan and in-depth coverage of national and international news.
HumSub TV is the first channel and thus a pioneer within its own right that mainly focuses on emphasising the “Rights” as well as the “Obligations” of the citizens in light of the Constitution of Pakistan, numerous International declarations signed by the Government and various laws that have been promulgated over the years but are not in the knowledge of the common citizen.
HumSub TV also aims to enter into bilateral agreements with other countries to promote not only their culture, heritage and tourism, but also their educational and medical facilities.
Following the successful launch of HumSub TV’s head office in Blue Area, Islamabad; the bureau office has been set up in Lahore.
Vision
To project positive image building of Pakistan and inculcate nationalism, as per the vision of the founder of the nation, Quaid-e-Azam Mohammad Ali Jinnah.
Mission
HumSub TV is resolute about the promotion of a pluralistic, inclusive and egalitarian society in Pakistan where all citizens are allowed to contribute to promote interfaith harmony, peace and collective wisdom in the social, political and economic development of Pakistan and to encourage critical and lateral thinking in the society. HumSub TV strives to make a positive contribution to this end.
HumSub TV’s Theme
HumSub TV, Pakistan’s first EDUTAINMENT Channel, has been set up for not only those audience residing in Pakistan or overseas but the international community on the whole. The vision of the channel is to project positive image building of Pakistan and inculcate nationalism as per the vision of the founder of the nation.
HumSub TV strives to make a positive contribution to this end by promoting pluralism, inclusiveness and egality in Pakistan and give voice to the suppressed. It endeavors to act as a positive catalyst for social change and Pakistani nationalism. It envisions providing a platform for airing critical and lateral thinking and collective wisdom by inviting positive minded intellectuals and opinion forming individuals for the promotion of interfaith harmony and peace in the social, political and economic development of Pakistan.
Whereas the channel airs upbeat edutainment programmes, it, nonetheless, has the primary objective of countering negative anti-Pakistan regional and international propaganda as well as advancing fundamental rights as encapsulated in the Constitution of Pakistan.
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