The streaming enterprise added to its subscriber list a record 8.3 million subscribers in three months, the last quarter of 2017, with 6.36 million of the subscribers outside the US, in spite of price hikes. The subscriber figures were released for the first time since it raised prices in October. Although previous hikes had hurt growth, they appeared to hardly effect this time.
Its revenue jumped to almost a third to about $3.3bn in the fourth quarter, while the net income rising to $5583.9 million compared to $189.7 million compared to previous errors.
Netflix called it a "beautiful quarter", and added, "We believe our big investments in content are paying off."
However, the Company also reported that it has lost $39 million in production costs due to movie star Kevin Spacey's sexual harassment scandal, which has upset the work on "House of Cards" and a Gore Vidal biopic, according to the Financial Times. Netflix has cut ties with the star of House of Cards, one of its first big hits, after his sexual misconduct accusation.
It plans to spend as much as $8bn on content this year, with more than a quarter devoted to original programming. Much of the new material is aimed at international subscribers, who outnumbered US members for the first time last year and now account for about 53% of the total.
Netflix, now available in more than 190 countries, said it is planning more than 30 original international programmes this year, including projects from France, Poland, India, Korea and Japan.
Netflix says it thinks there is room in the market for multiple services. It has also been striking deals with internet and mobile phone companies to include Netflix as part of monthly packages.
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