Trending News|April 23, 2013 03:01 EDT
House of Cards Season 2: Helps Netflix to Grow 2 Million Streaming Customers
A report on Monday said about the Netflix profit on the first quarter as 2 million new U.S streaming subscribers and it shares around 24 percent.
The success of House of Cards helped Netflix add 3 million streaming customers during the quarter, and has emboldened the company to pursue more original programming. "The solid performance in the March quarter combined with a better-than-expected outlook for the June quarter, aided by the upcoming release of 'Arrested Development: Season 4,' augurs well for the company in 2013 and beyond," BMO Capital Markets analysts said.
Netflix also said it will introduce a new subscription option that will allow for four simultaneous streams at once, and roll out a personalized profile feature. And it has added 1 million streaming Subscribers in its markets outside the U.S., which include Canada and parts of Europe and Latin America, bringing the global total to 36 million. Netflix also added that, a new service would be launched in Europe market in the second half of 2013.
The revenue for this quarter was $1.0 billion, up 17 percent from a year earlier. Before its financial results were announced on Monday, Netflix shares had climbed 80 percent this year. Most of the gains came in January after Netflix reported better-than-expected growth over the 2012 holiday season.
Many Wall Street analysts are still on the fence about Netflix. Nineteen of 35 analysts rate Netflix "hold," nine rate it a "buy," and six recommend "sell."
Some analysts have said they wonder if Netflix will grow fast enough to pay the costs of its international expansion and its bills from Walt Disney, Time Warner's Warner Bros, CBS and other Hollywood studios that provide it with movies and TV shows to stream to subscribers over the Internet.