When thinking about Netflix, many things come to mind. I remember how different everything was when it first came out. Back then, I would sit in front of the television to watch my favorite shows. Now streaming has changed everything. Recently, Netflix has seen a huge increase in its revenue in the UK. One wonders, is it just because of good content or is there something more to it?
The 70% increase in their operating profit compared to last year has surprised everyone. It went from £22M to £53.7M. It seems they have been successful in attracting viewers. But not just profits, their membership has also increased. The 7% increase, which is double that of last year, is proof that people are getting attracted to Netflix.
This year they have released some huge hits, such as “The Crown” and “Top Boy”. Needless to say, how popular these shows are popular among viewers. Netflix revenue in the UK grew 8% to £1.7B. It makes me feel like I am part of this growth.
But every good story has a twist. Netflix’s tax bill also doubled. The tax bill of £14.2M is much higher than last year. This could be the result of the pressure that MPs put on them. Dame Margaret Hodge even went as far as to say that Netflix is committing “superhighway robbery”. This makes me wonder if the company is headed in the right direction now.
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This year, Netflix has also launched several new shows. Names like “Fool Me Once”, “Baby Reindeer”, and “Bridgerton” are exciting. However, recently they canceled “Kaos”. This news was somewhat disappointing. I guess sometimes such decisions do not match the expectations of the audience.
Netflix’s data dump was also worth watching. Shows watched in the UK dominated. It’s interesting how audience preferences keep changing constantly. No one knows what will become a hit when. Now when I think about it, it makes me realize how many shows I have already watched.
The third quarter results are also coming in the US 8 million new subscribers were added in the last quarter. This number surprises me. Is everyone now crazy about streaming? Revenue stood at $9.6 billion, and earnings per share slightly surpassed the expectations of Wall Street analysts. It is a pleasant feeling to think about.
If we talk about their content, it is not limited to just drama and comedy. They have also contributed a lot to diversity. Shows based on Greek mythology have also come. All these things have given Netflix a unique position.
When I talk to my friends, they also have the same thoughts. Are we all connected to each other now only because of Netflix? Probably yes. And this thought makes us think that in today’s time, streaming has become an indispensable part of our lives.
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However, the competition is also increasing. Other streamers have also become active. But Netflix has maintained its position so far. It will be interesting to see what they do next. Will they use new technologies or come up with new ideas?
Finally, a question comes to mind. Will this growth be permanent or is it also a phase? The way they are going, it seems that they will try to maintain it. But as time goes by, everyone will have to pay attention to their position.
That is, I wonder, are we really enjoying all this or just part of a trend? Time will tell. But one thing is for sure, Netflix has completely changed our viewing habits.
Source: Deadline