comscore Netflix still piling up viewers and big programming bills | Honolulu Star-Advertiser
Business Breaking

Netflix still piling up viewers and big programming bills

  • ASSOCIATED PRESS

    Netflix now has 104 million subscribers worldwide.

SAN FRANCISCO >> Netflix is pulling in new viewers and award nominations in droves. But the online video service has a long-term problem: its acclaimed programming line-up is costing far more money than what subscribers pay for it.

That hasn’t been a big issue so far. Investors have been willing to accept scant profits in exchange for robust subscriber growth.

Netflix announced today that it added 5.2 million subscribers in the April-June quarter. That’s the largest increase ever during the period, which has always been the company’s slowest time of year.

The company now has 104 million subscribers worldwide. But the success hasn’t come cheaply.

Netflix is locked into contracts requiring it to pay more than $13 billion for programming during the next three years.

Click here to see our full coverage of the coronavirus outbreak. Submit your coronavirus news tip.

Be the first to know
Get web push notifications from Star-Advertiser when the next breaking story happens — it's FREE! You just need a supported web browser.
Subscribe for this feature
Comments (0)

By participating in online discussions you acknowledge that you have agreed to the Terms of Service. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. If your comments are inappropriate, you may be banned from posting. Report comments if you believe they do not follow our guidelines.

Having trouble with comments? Learn more here.

Scroll Up