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Netflix just got 7 million more subscribers in the 3rd quarter of 2018

Netflix has gained 7 million more subscribers in Q3 2018 bringing the total number to 137 million subscribers globally,and increasing it’s revenue over the period, obviously.

During Q3 of 2017, Netflix had 109 million subscribers. The new figure of 137 million in the same quarter this year consists of 130 million paid users, while 7 million are on a free trial. Netflix will start only counting paid subscribers for its reports by 2020. The company says it had predicted about 5 million new users for the Q3 2018 period. In a statement the TV streaming company wrote:

“Total net additions of 7 million (up 31 per cent vs 5.3 million last year) was higher than our forecast of 5 million and represented a new Q3 records… with strong growth broadly across all our markets including Asia.

Our broad slate of original programming helped drive a solid quarter of growth with streaming revenue increasing 36 per cent year-over-year and global membership surpassing 130 million paid and 137 million total.”

Netflix’s net income rose to $402.8 million, up from $129.6 million, a year earlier.

For Q4, the company has forecast 7.6 million additional paid subscriptions and a total net addition of 9.4 million, increasing the number by 13% as compared to 8.3 million in Q4 2017.

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