Netflix subscribers come streaming in

Netflix’s shares haven’t managed to climb back to a record set in July but they remain up 77% for the year

By 2022, that's expected to more than double, making India one of the top 10 markets for the services, with subscription video making up nearly 80% of the market, PricewaterhouseCoopers said. And to think, it all almost fell apart with Quickster.

Back in July, Netflix reported lower-than-expected subscriber growth for the second quarter, and its shares into a tailspin that knocked 20 percent off their value in a month.

"We'll take it at a million at a time", CEO Reed Hastings told a post-earnings interview of subscriber growth in India, which Netflix declines to break out, citing competitive factors. In overseas markets, which now accounts for 57% of Netflix' total subscription base, Netflix saw 5.8 million net new subscribers, above the 4.5 million estimate. Further, it issued aggressive guidance for Q4 2018, saying it expected an additional 9.4 million subscribers. Earnings of 89 cents a share blew past analysts' consensus estimate of 68 cents. It added 6.96 million new subscribers, exceeding expectations and coming in particular relief after the company disappointed during its previous quarter.

India has also turned out to be a lucrative content hub for Netflix which plans to spend more than $8 billion on original programming this year. The slate included new seasons of the drama Ozark and the animated comedy BoJack Horseman, ' as well as the company's first Indian original series, Sacred Games' and Ghoul. Stock prices immediately rose 11% on the day, while after hours trading steadied the stock back a small amount from the initial jump. The company believes that global markets will one day account for 80 percent to 90 percent of its customer base (like fellow internet giants Facebook and Google).




Netflix ended September with 137 million worldwide subscribers, including 58.5 million in the U.S. Netflix is the top performer among those stocks, with a gain of 74 percent this year.

Hargreaves is less optimistic over the company's ability to raise its profit margins over the long term due to the company's fourth-quarter forecast for contribution profit, a measure of profitability.

It looks like Netflix is about to but heads with the European Union, as the streaming service has begun calling out Europe's "content quota" plans for online video services.

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