Some Netflix Subscribers Say They'll Leave Over New Pricing

FILE This file image released by Netflix shows Sandra Bullock in a scene from the film

"But results won't push its stock higher from here, with most of the good news already priced in after a massive rally earlier this month".

The global subscriber additions show that Netflix "is far from peak int'l net additions". Revenue grew to US$4.19 billion, shy of the US$4.21 billion projection from analysts.

First quarter EPS and revenue miss could be attributed to the Street "mis-modeling" the recent price increase.

The firm also revealed that it will be creating more interactive projects such as Black Mirror: Bandersnatch in the future and if you ask us this is what will really help Netflix set itself apart from the plethora of streaming services available.

Netflix calculated its TV marketshare by estimating 120 million homes watch a billion hours of TV every day in the U.S. Meanwhile, Netflix says its service streams 100 million hours of content every day on average.

Wall Street analysts are becoming more optimistic about Netflix (ticker: NFLX) stock after the company reported higher-than-expected earnings, and beat subscriber expectations. For the first quarter, Netflix predicted even a growth in customer numbers by 8.9 million, which was above the expectations of analysts.

The basic Netflix subscription is increasing from $8 to $9, the standard plan is going from $11 to $13, and the premium plan will now be $16 instead of $14.

The earnings report comes at the start of what could be a pivotal year for the company.

In a letter to shareholders Thursday, Netflix said it expects the price hike to be "phased in" for existing customers in the first two quarters of 2019.

Netflix spent $7.5 billion previous year on films and shows and expects to spend more as it commits to producing more original fare versus licensing.

Netflix investment in content will be "more of the same, but on a continued and larger scale", said chief content officer Ted Sarandos.

"While TDG believes that Netflix will endure any short-term backlash from these increases, it is undoubtedly reaching a level of price resistance across all tiers", TDG president Michael Greeson said. The company faces an increasingly crowded field in streaming services, with new offerings coming from Walt Disney Co. and AT&T Inc.'s WarnerMedia later this year.

"We change pricing from time to time as we continue investing in great entertainment and improving the overall Netflix experience", the company said in a statement.

According to Bloomberg data, the average price target for Netflix now stands at $396, up from $384 on Thursday.

Even more detailed statistics were provided from Netflix including its US market share of 100 million hours of viewing per day. According to Netflix, the movie is estimated to be viewed by more than 80 million households within the first four weeks of appearing on the streaming platform.

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