Netflix adds 9.6m subscribers in three months despite increasing competition
Streaming service, which spent $12bn on original content in 2018, beat analysts exceptions in latest earnings report
Netflix added 9.6 million new subscribers in the first three months of the year even as it increased prices and faced stiffer competition from rivals including Amazon, Apple and Hulu.
The streaming video service now has nearly 149 million subscribers worldwide and beat analysts expectations in its latest earnings report. It’s often volatile share price dipped slightly after the news broke, falling close to 1%, as US growth slowed. Since it went public in 2002 Netflix’s shares have increased about 29,000%.