Streaming giant Netflix is ticking all the boxes in its growth checklist for sure. And the recently revealed figures of this streamer are something to boast about. At the fourth quarter results announcement of Netflix, it was revealed that the average number of hours streamed per membership rose by 9 percent last year compared with the earlier year. Netflix’s profits doubled and now its market capitalization stands at more than $100 billion for the first time.
Amongst the various other ‘good news’, it was also revealed that Netflix’s international subscribers jumped by 6.36 million members to 62.83 million. In the US, Netflix added 1.98 million new streaming customers, making its total US members to 54.75 million. Overall, the streaming giant’s new subscriber base increased by 18% gain over the same period last year.
The streaming giant hit a record 117.6 million subscribers in the last quarter, owing to the addition of 1.9 million domestic and 6.36 million international streaming subscribers.
Upping the ante, Netflix is looking to add 1.45 million members in the US and 4.9 million internationally in the current quarter.
International growth rates were higher at around 11 percent in the fourth quarter compared to Q3, while domestic growth rates lagged behind at under 4 percent. The good news in this is that Netflix’s international subscriber numbers surpassed the domestic numbers (USA membership) for the first time last year.
Netflix is none to spend much on its content and this number will increase this year. Netflix is expected to spend between $7.5 billion and $8 billion through 2018 on content costs. According to the fourth-quarter financial statements, the company owes about $6.5 billion in long-term debt, after issuing $1.6 billion in debt during the quarter.