New content stands to become even more important going forward if third party gems like The Office and Friends eventually move to NBC's planned streaming service.
The results for July through September represented a rebound from the previous quarter when Netflix lost US streaming customers for the first time in eight years and missed targets for overseas subscribers.
Netflix trimmed its forecast for subscriber growth, saying it expected the count to be up 26.7 million at the end of this year.
Despite positioning Netflix as the market leader, Hastings said that "we believe we're less than 10% of TV screen time in the U.S. (our most mature market) and much less than that in mobile screen time".More news: Bulgaria charged by UEFA over racist chanting in Euro qualifier against England
Although the streaming service is trying to be positive, they have had misses since quarter two.
As discussed in our pre-Q3 earnings file expectations, Apple holds the estimable advantage in distribution with upwards of 1 billion full of life Apple devices worldwide.
For the third quarter, Netflix was boosted by new seasons of shows such as "Stranger Things" and "13 Reasons Why". "In Q3, Season 3 of La Casa de Papel (aka Money Heist) became the most watched show on Netflix across our non-English language territories with 44m households watching the new season in the first four weeks of release", Netflix said in its letter to shareholders.
We've been preparing for this new wave of competition for a long time.
Netflix shares rose 2.4% Thursday morning to $293.13.More news: Google Nest Mini vs Home Mini: What's new?
"To date, we have globally released 100 seasons of local language, original scripted series from 17 countries and have plans for over 130 more in 2020".
Sales grew by a strong 31 percent to 5.2 billion dollars. We don't shy away from taking bold swings if we think the business impact will also be wonderful.
Total segment contribution margin of 30.4% improved by 640 basis points year over year, leading to an operating margin of 18.7%, up 440 basis points from the same period last year, due in part to lower relative marketing spending and content cost amortization. "In the long-term, though, we expect we'll continue to grow nicely given the strength of our service and the large market opportunity", it said.More news: Another man is arrested in probe of Giuliani associates