During the first quarter of 2019, Netflix added another 10 million subscribers to their list.
This is an outstanding performance for the streaming giant, which was expected to take more of a hit due to recent price spikes.
Netflix has had a great first quarter this year. Among the 10 million new subscribers the company landed, 1.74 million were from the US, as Netflix has expanded its reach around the globe. This was also just one of the expectations which Netflix beat, as they were expected to only land 1.6 million new US subscribers. The 7.86 million subscribers that were added from every other country also helped break the previous expectation of 7.3 million.
The price hike that Netflix implemented was supposed to have more daunting effects on their bottom line, too. The reality turned out to by a 16% increase in the number of paid subscriptions since the end of Q1 in 2018. Netflix reported an income of $4.52 billion for Q1 of 2019. This one barely beat Wall Street’s prediction of $4.5 billion, but it beat that expectation nonetheless. Netlflix now has 148 million subscribers worldwide.
The price hikes which are still in the works will not affect all Netflix subscribers. It will, however, affect subscribers in the US and Mexico. The real challenge to Netflix will be all of the new competition in the digital streaming industry.