Netflix surpasses $11 billion in 2017 revenue

Streaming giant reports on a "beautiful" fourth quarter
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Q4 saw the release of Black Mirror series four

Q4 saw the release of Black Mirror series four

Netflix surpassed the $11 billion mark in global revenue in 2017, marking what is calls a "great year" and a "beautiful quarter" with it's Q4 2017 report. 

The company grew its streaming revenues by 36 per cent in 2017, adding 24 million new members in the process.

In Q4, Netflix added 8.33 million of those new memberships - the highest total in a single quarter in the company's history. 

It posted $3.18 billion (£2.28 billion) in revenue for the year. The figures were boosted by a nine per cent increase in average selling prices for subscriptions, with operating income totalling $245 million (£175 million) at a margin of 7.5 per cent, compared with $110 million (£79 million) and 6.2 per cent in 2016.

Netflix exceeded its own expectations with its growth in subscription numbers, and attributed the movement to its original content slate including The Crown, Black Mirror, 13 Reasons Why, Stranger Things and Bright.

During Q4, new titles such Godless, Marvel’s The Punisher and Mindhunter were also launched.

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