Netflix Breaks New Record
Growth isn't an issue for Netflix and after looking at recent numbers, it doesn't look like the [...]
Growth isn't an issue for Netflix and after looking at recent numbers, it doesn't look like the streaming giant will have to worry about numbers any time soon. According to a new report from TechCrunch, Netflix had a record month in November, setting a new company record for highest consumer spending across its mobile applications.
Netflix reportedly hauled in an estimated $86.6 million in the month of November, an astonishing 77% higher than the money earned in November of last year ($49 million). November's new high surpasses July 2018's previous record at an estimated $84.7 million.
The numbers, provided by app intelligence firm Sensor Tower, show that the United States accounts for the majority (57%) of Netflix's consumer spending on mobile. With the increase in spending through mobile apps, it's apparent that not only are more and more consumers removing cable from their budget, but they're getting rid traditional televisions in a sense, opting to consume content through tablets and mobile phones.
The streaming giant is well aware of their growth on mobile, going the length to even begin testing a much more affordable plan that'd only make the service allowed on mobile devices.
"We are testing to understand consumer interest in a mobile-only plan in some countries," Netflix told Quartz. "Generally, we try out lots of new ideas at any given time, and they can vary in how long they last and who sees them. We may not ever roll out the features or elements included in a test."
The reduced plan is reportedly starting to roll out first in international markets in Asia. The news comes after Netflix announced that it was starting to roll out original content for their platforms in India and Asia. The third quarter of 2018 saw Netflix subscriptions gain nearly 7 million new subscribers, 5.87 million of which came from international markets.
As the streaming market gets more competitive with cheaper platforms popping up by the day, it's certainly keeping the big players in the industry — such as Netflix and Hulu — on their toes, pushing them to innovate their product.
How do you primarily watch Netflix? Would you subscribe to a mobile-only option or would you rather play it through your television for a few extra bucks a month? Let us know your thoughts in the comments below!1comments