Netflix nears 100 million subscribers

Netflix added five million new members in the first quarter of 2017 and reached 98.75 million users worldwide (including courtesy accounts). In a letter to shareholders, released on Monday, the company said it expects to cross the 100 million member mark this weekend.

However, the streaming giant added fewer members than expected during this quarter. In Q416 Netflix had added a record 7.05 million members, increasing the expectations of the market analysts. Net additions were also lower compared to the same quarter of 2016. Even so, Netflix projects that in Q217 will reach 101.95 million users globally.

If only paid accounts are considered, Netflix reported 94.4 million members, of which 47.7% were international and the rest of its domestic operation. In Q117, the base of international paid accounts added 3.8 million memberships.

In the International segment, Netflix does not disclose the number of users per country. However, the company said is “rapidly growing” in Latin America, Europe, and North America. “We are making good strides in improving our content offering to match local tastes in Asia, Middle East, and Africa, but have much progress to make, like in Latin America a few years ago” Netflix explained in the letter.

In Q117, the streaming revenue was USD 2.5 billion, of which USD 1.04 billion belonged to the international segment. The company’s net income increased to USD 178 million, compared to USD 28 million in Q116.