Netflix Gets A Subscriber Bump Following “Arrested Development”
Netflix’s subscriber count has been bumped up after the new season of “Arrested Development” launched. Netflix added around 630,000 U.S. streaming subscribers for the quarter ended June 30th. Netflix forecasted that they would be adding 690,000 to 1.49 million domestic streaming subscribers in the third quarter.
Netflix had around 29.81 million U.S. streaming subscribers as of June 30, which is up from 29.17 million three months prior. Netflix was expected to end Q2 with between 29.4 and 30.05 million U.S. subscribers.
Every new episode of “Arrested Development” was added to Netflix on May 26th. The show already had a strong brand and fan base, “generating a small but noticeable bump in membership when we released it,” stated Netflix chief executive officer Reed Hastings and chief financial officer David Wells in a letter to shareholders on Monday.
Netflix is interested in developing a fifth season of Arrested Development if possible due to the reaction from the fans. Imagine Entertainment head Brian Grazer is talking to the actors and actresses of Arrested Development to explore the possibility.
Netflix made history last week by becoming the first Internet video company to receive Primetime Emmy nominations. Netflix was nominated for 14 awards. Nine of them were for “House of Cards.”
Revenues/Net Income: Netflix reported revenues of $1.07 billion and a net income of $29 million. Netflix’s broad content deal with MTV Networks expired in Q2, which they lost to against Amazon.com’s Prime Instant service. “While the shows from Nickelodeon and Comedy Central came off our service, we introduced several new shows from Disney Jr., The Cartoon Network and The Hub for kids, and great comedies like ‘The New Girl’ from Fox on July 1,” added Hastings and Wells.