"In our view, the likely outcome from the launch of these new services will be to accelerate the shift from linear TV to on demand consumption of entertainment", the company wrote in a letter to investors. Analysts expect the company to post 9.6 million net global additions in the quarter. Starting in its Q4 2019 report Netflix will break down its revenue and membership numbers by territory, including data for APAC, EMEA and LatAm, and combining the United States and Canada into one region.
Netflix trimmed its forecast for subscriber growth, saying it expected the count to be up 26.7 million at the end of this year.
The third-quarter increase in revenue also means Netflix could invest to improve the service and make more original shows to battle competition in markets around the world.
Apple Inc AAPL.O also will debut a much smaller streaming video service with original programming in November. Prior to the report, shares of the Los Gatos, California-based company had traded down more than 20% since its last earnings report in July. Shares of Netflix elevated 8.7 % in after-hours dealing on Wednesday.
"Netflix results were good enough that they assuaged concerns about price sensitivity and penetration levels in the domestic markets", said Fitch director Patrice Cucinello.
Police kill homicide suspect at ‘Tarzan’ actor Ron Ely’s home in California
As RadarOnline.com has learned, authorities are investigating a possible homicide at the luxurious Hope Ranch community. The younger Ely posed an unspecified threat to the deputies, leading them to open fire on him, the statement said.
Prince William and Kate Middleton Play Cricket, Visit Mosque in Pakistan
The RAF Voyager aircraft that the The Duke and Duchess of Cambridge travelled is seen, in Lahore, Pakistan October 17, 2019 . The duchess is expected to speak at the event, which will involve games, music and traditional Pakistani cakes.
Mark Zuckerberg rejects calls for Trump's social media to be shut down
The company is building an independent oversight board that can be the last word on Facebook decisions that users disagree with. He acknowledged that when everyone has a voice, some people will use that to try to organize violence and influence elections.
"Sintonia, our latest Brazilian original, was the second most watched inaugural season in Brazil".
"To this point, we bear globally launched 100 seasons of native language, long-established scripted sequence from 17 countries and bear plans for over 130 extra in 2020", the corporate's earnings file read.
In another blow, AMC Theatres, the biggest cinema chain in the world, said Tuesday it is launching a streaming service that will allow members of its loyalty program to rent or buy films and watch them at home, the first such offering from a cinema operator. Despite the strong operating margin improvement, management held fast to its guidance of 13% operating margin for 2019, implying increased content amortization, with a range of movies and shows set to release, and higher marketing spending in the fourth quarter.
Speaking during a Q&A after the release of the results, Hastings added that "all four of us (Netflix, Hulu, YouTube and Amazon Prime Video) have been competing heavily, including with linear TV for the last 12 years", and that the new competition from Apple and Disney is "fundamentally more of the same".