Netflix adds 7 million new subscribers in record-breaking third quarter

Andy Boxall | October 17, 2018

App Business

Netflix has had its highest performing third quarter ever, adding seven million new subscribers over the past three months. This brings its total subscriber base to in excess of 137 million around the world.

The strong quarter comes after a period where growth did not meet expectations for the online streaming service, and has resulted in a stock price increase of 11%. The market had expected Netflix to add around five million new subscribers.

Subscribers came mostly from around the world, with nearly six million out of the total seven million signing up outside America.

In order to continue attracting new people, Netflix intends to continue releasing its own original programming, having allocated $8b for 2018 alone to produce its own shows. According to analysts quoted by the BBC, an additional 676 hours of these shows have already been added this year, up 135% over this time last year.

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