Netflix reported a 33% year-on-year rise in global streaming revenue to 2.9 billion US dollars in the third quarter, driven by a 24% increase in average paid memberships and 7% growth in the average selling price. The company said it added 5.3 million members globally (up 49% year-over-year). For the fourth quarter, it forecast global net adds of 6.3 million (1.25 million in the US and 5.05 million internationally).
Netflix recently announced price increases in many markets for its HD and 4K video plans while keeping its standard definition plan mostly unchanged.
Netflix said: "Investors often ask us about continued access to content from diversified media companies. While we have multi-year deals in place preventing any sudden reduction in content licensing, the long-term trends are clear. Our future largely lies in exclusive original content that drives both excitement around Netflix and enormous viewing satisfaction for our global membership and its wide variety of tastes. Our investment in Netflix originals is over a quarter of our total P&L content budget in 2017 and will continue to grow. With 17 billion dollars in content commitments over the next several years and a growing library of owned content (2.5 billion dollars net book value at the end of the quarter), we remain quite comfortable with our ability to please our members around the world. We’ll spend 7-8 billion dollars on content (on a P&L basis) in 2018." source: Netflix statement
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