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Netflix Q1 2014 Financial Results and Future Subscription Prices News
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Netflix Q1 2014 Financial Results and Future Subscription Prices News

The media streaming provider Netflix has announced its earnings for the first quarter of 2014, reporting revenues o...

Netflix Q1 2014 Financial Results and Future Subscription Prices News

The media streaming provider Netflix has announced its earnings for the first quarter of 2014, reporting revenues of nearly $1.3 billion. Earnings were reported at 86 cents per share, as compared to last year's first quarter earnings of 5 cents per share.

 

The American streaming provider reported a net income of $53,115 million for the first quarter of this year, while in the same quarter of the previous year, it earned a net income of nearly $2.7 million.

 

For the first three months of 2014, Netflix boasted over 48 million global members, 35.7 million of which were domestic subscribers, and 1.75 million which were international. The provider also prides itself on having original programming content:  House of Cards, the MITT series, the Grace and Frankie sitcom, documentaries and popular comedies.  Netflix will be launching the second season of Derek - the Ricky Gervais series, and the second season of Orange is the New Black series. Netflix will also be streaming kid-friendly series.

 

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Since Netflix topped earning expectations, the company decided to raise its subscription prices for new members. The subscription fee change will be effective from the upcoming quarter. Netflix's CEO, Reed Hastings, announced, "If we want to continue to expand, to do more great original content... we have to eventually increase prices a little bit.”

 

Netflix's financial performance of the first quarter of 2014 can be viewed in more detail in the press release, and in the company's open letter to shareholders.

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