Apr 17, 2018

Netflix overseas sales set to take over US

Netflix has said it expects its overseas sales to overtake those in its US home market for the first time in the next three months. Netflix now has 125 million subscribers, after adding 7.4 million more between January and March. Revenue grew 43% from a year ago, slightly above forecasts at $3.7bn, driven by the increase in new subscribers and a 14% rise in the average cost of a Netflix membership. Netflix faces increasing competition from rivals such as Amazon and Disney which are developing their own online video offerings. Walt Disney will stop supplying new movies to Netflix starting next year and will instead start its own streaming service for families.

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