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Netflix is doing alright, I guess. The subscription streaming service has made recent headlines for the cancellation of its latest Marvel series, but even that has apparently not been bad for business. The streaming giant just logged a record-breaking month in November. In what arena? Excellent question.
It all happened in Netflix's consumer spending via its mobile apps. New numbers shared by data app intelligence firm, Sensor Tower, reveal Netflix had a lot to be thankful for in November. Combining consumer spending on iOS and Android apps, the streamer pulled in $86.6 million, per Tech Crunch. Still, the numbers may not seem that impressive until you realize what makes them record breakers.
That number is a 77% increase from last year's, which itself was no small figure. Last year, Netflix grossed $49 million in November. As of now, Netflix has grossed over $1.58 billion on mobile. Yes, that is billion not million. That gigantic number should help illuminate Netflix's ability to spend so much on building its content library.
The streaming platform does a lucrative business. In other words, Netflix is making a lot of money to spend a lot of money and vice versa. A few months ago, it was reported that the popular streamer planned to double its current library of original content. That move will give consumers watching mobile more than enough new options in the future.
It is not a bad time to be Netflix or a subscriber of the popular platform. November was an interesting month for the streamer. It ushered in new content and revealed the ushering out of others.
In one of its most high-profile moves, Netflix cancelled the superhero drama Daredevil. That decision sent shockwaves throughout as it seemed to signal the end of Marvel original series at Netflix. Those shows have been part of the appeal of the platform's original content.
Questions continue to linger for fans of the show, including why it was cancelled in the first place. It was reportedly one of Netflix's top five performing shows at the time of its cancellation. Amidst all of the confusion, a challenger is set to square off on the streaming stage. Disney is starting its own streaming platform, meaning Netflix is gearing up for an exciting 2019.
With Disney stepping into the streaming world, Netflix is arguably about to face its toughest competition to date. Consumers could cancel their Netflix subscription in the pursuit of Disney+, or subscribe to both. Along with services like Amazon Prime and Hulu, premium subscribers are becoming a cost-consuming endeavor. The issue of cost has reportedly led Walmart to consider entering the fray.
No matter what happens, it will be fun to follow Netflix's numbers in the coming year. The subscription streamer is still in a prime position to gain on this year's impressive revenue. Will it do that? Well, that is the kind of cliffhanger a Netflix show would love.