Netflix Surpasses $11 Billion in 2017 Revenue

Streaming giant reports on a "beautiful" fourth quarter
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LOS GATOS, CALIF.—Netflix surpassed the $11 billion mark in global revenue in 2017, marking what is calls a “great year” and a “beautiful quarter” with it's Q4 2017 report. 

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"Black Mirror"

The company grew its streaming revenues by 36 percent in 2017, adding 24 million new members in the process. In Q4, Netflix added 8.33 million of those new membershipsthe highest total in a single quarter in the company's history. 

It posted $3.18 billion in revenue for the year. The figures were boosted by a 9 percent increase in average selling prices for subscriptions, with operating income totaling $245 million at a margin of 7.5 percent, compared with $110 million and 6.2 percent in 2016.

Netflix exceeded its own expectations with its growth in subscription numbers, and attributed the movement to its original content slate including “The Crown,” “Black Mirror,” “13 Reasons Why,” “Stranger Things” and “Bright.” During Q4, new titles such “Godless,” “Marvel’s The Punisher” and “Mindhunter” were also launched.

This story originally appeared on TVT's sister publication TVB Europe