Video streaming service Netflix has announced it now has 75 million subscribers around the world, having added 5.6 million during the December quarter, slightly more than Wall Street had expected.
Netflix is still losing money from its streaming business outside the US, and it expects to lose more – $US114 million ($164 million) in the next quarter.
But it maintained its previous pledge to start delivering material profits from its international operations next year.
In a letter to shareholders, Netflix noted that an executive from traditional US television broadcaster NBC had said that internet TV was overblown and that old-fashioned linear TV was ‘‘ like God intended’’ .
The response, a dig at old media from Netflix chief executive Reed Hastings and chief financial officer David Wells, tells you a lot about the company: ‘‘ Our investors are not as sure of God’s intentions for TV, and instead think that internet TV is a fundamentally better entertainment experience that will gain share for many years.’’