Netflix plays its Cards right, giving Reasons to subscribe
NETFLIX is expected to say that its net profits nearly doubled last year to $1.18billion (£929.5million), when it unveils its results on Thursday.
The movies and TV internet streaming giant is also tipped to say revenues grew by 35.3 per cent over 2018 to $15.8billion (£12.4billion) and that its total number of subscribers globally has surpassed 146million.
Netflix has invested heavily in its own content, winning critical acclaim and growing audiences. Programmes such as House Of Cards, Making A Murderer, and 13 Reasons Why, which drew criticism for its depiction of teenage suicide, all attracted large audiences last year.
To pay for its growing catalogue of exclusive shows, Netflix has increased borrowing dramatically and analysts and investors will be eager to see its debt position. At the end of September, its long-term debt stood at £6.5billion.
One of Netflix’s biggest and most successful programmes, The Crown, is expected to return later this year.
Season three of the show, which is based on the life of Queen Elizabeth II, will feature a changed cast, to reflect the passage of time. Olivia Colman and Tobias Menzies have replaced Claire Foy and Matt Smith as the Queen and the Duke of Edinburgh respectively.