Netflix closes 2018 with 139 million subscribers as Q4 revenues top £3.2bn

Streaming giant Netflix closed 2018 with over 139 million paid subscribers after welcoming 8.8 million new members in last quarter of the year.

The company has put the increase down to the success of its original shows and films, which include Roma, Bird Box and The Crown.

Of the 8.8 million new subscribers in Q4, 1.5 million were in the US and 7.3 million international.

Netflix executives have said that original content now accounts for the “vast majority” of its most popular material, with American subscribers believed to be spending around 10% of their TV time on the platform.

On Thursday, the California-headquartered firm’s quarterly earnings report showed it generated $4.2bn (c.£3.2bn) during Q4, a year-on-year increase of 27%.

According to CNBC, chief exec Reed Hastings said: “You know for 20 years we’ve been trying to please our members, and it’s really the same focus year after year.

“We’ve got all these ways to try to figure out which shows work best, which product features work best.”

He added: “It’s the same virtuous cycle: Improve the service for our members, we grow, that gives us more money to invest.”

According to analysts, Netflix spent over $13bn (£10bn) on movies and shows throughout last year.