In the fourth quarter, Netflix posted $4.19 billion in revenue -- up 27.4% from the same period the year before. For the year, annual revenue was up 35% to $16 billion in 2018, and the service nearly doubled its operating profits to $1.6 billion.
The SVOD service says global streaming paid members for the period were up 26% to 139.3 million, adding 8.84 million -- 1.5 million in the U.S. and 7.3 million internationally.
Previously, Netflix said it had 57.4 million U.S. subscribers and 72.7 million international subscribers.
Overall results seem a bit underwhelming for some analysts. After market trading, Netflix stock was down around 3% to 4% to $343.01.
It offered guidance that first-quarter 2019 revenues will rise 21.4% to $4.5 billion, with global paid subscribers adding 8.9 million.Against the backdrop of growing Netflix subscribers -- up 26% in the fourth quarter and 27% more revenues versus the same period a year ago -- the SVOD service also says it grabs a large share of U.S. TV "screen time" at about 10%.
Among its fourth-quarter results, Netflix says it delivers “about 100 million hours a day to television screens in the U.S.” Netflix's estimate comes from overall U.S. television screen time of about 1 billion hours daily -- 120 million homes, times two TV sets, times four hours a day, which include out-of-home screens, such as hotels and bars.
When it comes to competition, Netflix isn’t all that concerned with similar movie/TV generated services:
“We compete with -- and lose to -- [video game] 'Fortnite' more than HBO. When YouTube went down globally for a few minutes in October, our viewing and signups spiked for that time. Hulu is small compared to YouTube for viewing time.”
It adds that its “focus is not on Disney+, Amazon or others, but on how we can improve our experience for our members.”
Recently, it disclosed that it would raise consumer monthly pricing 12% to 18% -- depending on the Netflix streaming service -- all to push more original content. Some estimates have projected that Netflix could spend upwards of $12 billion this year.