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Now is a great time for Netflix. The streaming giant has managed to surpass even its expectations for its success. The streamer, which is the home of proven hits such as Stranger Things, Luke Cage, and Jessica Jones, has posted some pleasantly unexpected numbers. In the first quarter of 2018, Netflix added 7.41 million global subscribers, and that's not the only impressive number.
The 7.41 million global subscribers in the first quarter of 2018 beat the expectations of Wall Street analysts by nearly 1 million. It also marks a 50% increase from last year's quarter. Deadline shared the staggering statistics of Netflix's growing membership. The streamer raised some eyebrows when it announced its plans to spend $8 billion on content in 2018 alone. According to Netflix, the company has already made $3.6 billion in their first quarter. That means it is almost halfway to making back their 2018 budget, with three-quarters of the year still left to go. That is pretty impressive. So what explains the first quarter uptick in subscribers?
We can only speculate. One look at the new TV content on Netflix indicates how the streamer may have added to its subscriber list. Netflix has launched a lot of new content, as well as welcoming back many of its popular series. The fourth season of the comedy Grace & Frankie premiered in late January. Other notable series that returned in the first quarter were the second seasons of Jessica Jones and A Series of Unfortunate Events.
As for new series, two seasons of the German-language crime drama Babylon Berlin premiered at the end of January. The Joel McHale Show with Joel McHale premiered in late February. The buzzy sci-fi series Altered Carbon premiered in early February. The big March TV releases were the second seasons of Jessica Jones, One Day at a Time, and Santa Clarita Diet.
What makes Netflix's growth in its first quarter particularly impressive is that it brought in more subscribers despite the streamer's buzziest series not launching any new content. Could it have been Altered Carbon that managed to entice new viewers? Or was it no show in particular and the continuous word-of-mouth the streamer has received that was responsible for the bump?
Series do not have to be recent to remain relevant. Everyone may not have watched the latest season of Ozark yet and wanted to binge-watch it, because everyone they know is still talking about it. That is the magic of Netflix.
With the Lost in Space TV reboot launching this April, Netflix's second quarter may see an even higher increase in subscribers. While TV series are an alluring factor for potential subscribers, Netflix also has its share of movies, and they could have also played a role in the streaming network's success. Either way, Netflix's success story continues.