Published: Sat, January 19, 2019
Life&Culture | By Sue Mclaughlin

Netflix forecast misses Wall Street view, shares dip

Netflix forecast misses Wall Street view, shares dip

The footage, which was reportedly licensed to Netflix by Pond 5, a New York-based stock media supplier, involved a train that derailed, ignited, and killed 47 people in the town of Lac-Mégantic in Quebec, Canada.

For the fourth quarter, Netflix reported revenue of $4.19 billion for the quarter that ended in December, slightly below the $4.21 billion that Wall Street analysts had forecast, according to IBES data from Refinitiv.

Fourth-quarter profit fell to $134m from the year earlier's $186m, the company said.

Netflix said other recent audience favourites included romantic television thriller series You and British young adult comedy series Sex Education, both of which are expected to be watched by more than 40 million member households in their first four weeks.

'Our multi-year plan is to keep significantly growing our content while increasing our revenue faster to expand our operating margins, ' the company said in a letter to investors.

The point in releasing those numbers was to show the company's originals out pace the US, even series developed in Italy or Turkey can attract millions of viewers on the company's platform.

Industry watchers were looking for signs in Netflix's guidance for Q1 for how that price increase might affect its subscriber growth. 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.

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In a letter to shareholders, via Variety, executives said that "We are seeing high repeat viewing".

Netflix's investment in original content starting six years ago was a bet that studios and networks would eventually look to do their own streaming, said Ted Sarandos, chief content officer.

Earlier this week, Netflix announced it was raising prices for USA customers by $1 to $2 per month to help fund its aggressive expansion and offset mounting debt. "We don't get so focused on any one competitor and really think our best way is to win more time by having the best experiences". They're producing some great original content with shows like "Ozark" and "Bloodline".

At least two dramas now on Netflix's Canadian platform, including the hit "Bird Box", briefly use stock footage of the 2013 tragedy.

Over a four week period, the company added that the film had been viewed by 80 million subscribers.

"For part of the Netflix subscription, you are in the zeitgeist. you are watching the program that the rest of the world is loving at the same time".

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