The big picture: Netflix in the third quarter added 6.77 million new subscribers, pushing its total number of paid memberships to 158.33 million. The path to 200 million subs is only going to get tougher moving forward, however, as two major competitors are set to open for business in the coming weeks.
Netflix raked in $5.2 billion in revenue during the most recent three-month period, an increase of 31.1 percent year over year. Earnings per share checked in at $1.47 versus $0.89 generated during the same period a year earlier.
Looking ahead to the fourth quarter, Netflix said it expects to add 7.6 million subscribers worldwide between now and the end of 2019. It’s an optimistic outlook considering some heavy competition is looming.
Apple’s new streaming video service, Apple TV+, launches in more than 100 countries on November 1 priced at $4.99 per month. It’ll be free to try for seven days and if you’ve purchased a new iDevice since September 10, you’ll get a free year of service.
Disney, meanwhile, is launching its Disney+ streaming platform on November 12. The company in August announced a bundle that’ll include Hulu, ESPN+ and Disney+ for $12.99 a month. If you already subscribe to the two other services, that’s an incredibly good deal.
Of course, walking away from Netflix may be harder than it seems as the streaming outfit has put out some very solid content this year including Stranger Things 3 and more recently, El Camino: A Breaking Bad Movie.
Masthead credit: Netflix by XanderSt