Netflix users rise past 44 million

Netflix sign Netflix output has won a host of awards from Emmys to Baftas

Related Stories

TV and film streaming service Netflix said it added four million new users in the last three months of 2013 to give it 44 million international viewers.

The company, which is behind the series House of Cards, also reported a jump in net profits to $48m (£29m) in the fourth quarter from $8m for the same period a year ago.

Netflix said 2.3 million new customers had joined in the US alone.

The report sent its share up 16% at one point in after-hours trading.

Internationally, user numbers grew by 1.6 million in the last quarter.

Turnover rose 24% compared with the previous year to just short of $1.2bn.

Netflix said it expected to add another four million users by the end of the current quarter.

Netflix original series have received over 80 major award nominations and wins, including Emmy and Golden Globe recognition for House of Cards, Orange is the New Black, Arrested Development and Hemlock Grove.

The company said in a statement: "It's been a good year for Netflix. People around the world want what we offer: consumer-in-control internet television."

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

BBC Business Live

  1.  
    MARKET UPDATE 11:01:

    The benchmark FTSE 100 index is down 0.2%, with Diageo down 4.3% following lower sales in the third quarter. RSA Insurance Group is up 2.9% after selling businesses in Poland and Baltic states. Germany's Dax is down 0.2% and France's Cac 40 fell 0.2%.

     
  2.  
    CO-OP GROUP 10:49:

    The company has about 650 properties, mainly old shops, that it doesn't use, said Mr Pennycook. That is the size of a national retail network, he said, and the board was "surprised" when he told them.

     
  3.  
    CO-OP GROUP 10:37:
    A branch of the Co-operative Bank on April 11, 2014 in London, England

    "I've said I will lead the organisation through a period where we need to steady things, which includes governance reform," said Mr Pennycook. Journalists are asking whether he will stay if reform isn't forthcoming. He won't "name names" when it comes to the bank's failures as there is an official report in the pipeline, he said.

     
  4.  
    CO-OP GROUP 10:21:
    A pedestrian passes a Co-operative retail store in east London, April 10, 2014.

    More from Mr Pennycook on the Co-op's results. They will open 100 new convenience stores this year, he said. It is an area Co-op does well, he said. They will sell their farms and pharmacy businesses and expect a "conclusion" on that process towards the end of the year. Being "all things to all people" means they have been "too thinly spread."

     
  5.  
    CO-OP GROUP 10:13:

    Co-op Group interim chief executive Richard Pennycook is speaking on a conference call. He says the company will cut about 60% of the stores Somerfield brought with it when it bought it in 2008. They are too large and don't "work for" the firm, he said.

     
  6.  
    TAYLOR WIMPEY 10:04:
    03/07/2008 new Taylor Wimpey home

    Homebuilder Taylor Wimpey's chief executive Pete Redfern says the firm "made a particularly strong start to the year." It expects to improve operating margin, a profitability measure, by 2-3 percentage points in 2014, it said. Sales for the year will be "slightly ahead" of 2013.

     
  7.  
    CO-OP GROUP 09:47: Kamal Ahmed BBC Business editor

    "The Co-op Group chief executive has laid it on the line - this business needs to reform or it will face dire consequences. His words about "management failings" and these results being "disastrous" and the "worst in our 150 year history" are a clear message to anyone who thought that the business could carry on in the same way."

     
  8.  
    HIGH-FREQUENCY TRADING 09:42:
    Trader

    The Financial Times reports that New York's attorney general has sent subpoenas to six high-frequency trading firms. A subpoena is an official request for a person to testify, or an organisation to provide information. In this case it's a development of the investigation into high-frequency trading. Such firms are suspected of having an unfair trading advantage.

     
  9.  
    LIFE EXPECTANCY 09:28: BBC Radio 4

    People about to retire and deciding what to do with their pension will be given guidance as to when they're likely to die, under a proposal being floated by the pensions minister, Steve Webb. Most people underestimate their life expectancy by around 3 years. So says Tom McPhail of Hargreaves Lansdowne, on Today.

     
  10.  
    CO-OP GROUP 09:18: BBC News Channel
    Kamal Ahmed, Business Editor

    BBC Business Editor Kamal Ahmed says that stinging comments from Co-op Group boss, Richard Pennycook shows he is trying to get momentum behind the reform agenda. Kamal says the results have a small amount of better news - debts have come down slightly and funds will be generated by the sale of pharmacies and farms.

     
  11.  
    CO-OP GROUP 09:13:
    File photo dated 16/07/13 of a Co-operative food store

    Most of Co-op Group's loss related to the bank. It booked a loss of £1.44bn up to the date it lost control of the bank, and then took another charge of £625m when it handed over 70% of the bank's shares to bond investors. The company also wrote down the value of Somerfield by £226m.

     
  12.  
    CO-OP GROUP 09:03: Breaking News

    The Co-operative group has announced a loss of £2.5bn for the year to 4 January. "The scale of this disaster will rightly shock our members, our customers and our colleagues," says chief executive, Richard Pennycook.

     
  13.  
    PETROBRAS PROBE 08:53:
    Petrobras HQ, Rio

    Brazilian police named 46 suspects including an executive at oil company Petrobras in an alleged $4.5bn money laundering and drug operation, according to AFP. Authorities are investigating a gang for illegal currency trading, diamond trafficking and bribing government officials along with money laundering and drug allegations. Two of the suspects are on the run, said AFP, citing local media.

     
  14.  
    MARKET UPDATE 08:42:

    Shares in London have drifted lower in early trading. The FTSE 100 is down 0.2%, with Diageo the biggest loser after it reported a fall in sales in the third quarter. Shares in RSA Insurance have jumped almost 3% after announcing the sale of businesses in the Baltic states. In Frankfurt the Dax is down 0.2% and the Cac 40, is little changed.

     
  15.  
    BEER 08:29: Radio 5 live

    Colin Valentine of Campaign for Real Ale is on 5 live telling us beer is just as good for us as wine. There is some science behind his claim, he says. Alas, it is only healthy in moderation, according to Mr Valentine. "When people talk about beer bellies it's not just the beer we are talking about," he said.

     
  16.  
    SPIRITS TUMBLE 08:21:
    Diageo Claive Vidiz Collection

    It's a rough morning for shares in the makers of some of the world's best-known spirits. Diageo, the owner of Johnnie Walker, is down 3.8% and Remy Cointreau is down 6.2%. Remy warned that annual operating profits could be down as much as 40%. Diageo reported that sales in the three months to the end of March fell 1.3%.

     
  17.  
    NEW CAR SALES 08:02:
    New cars, Sheerness Kent

    Demand for new cars in the European Union increased for the seventh month in a row in March, according to the European Automobile Manufacturers Association. It says car registrations rose 10.6% last month. The UK was the strongest of the major markets with a 17.7% rise, Italy was the weakest with a 5% increase.

     
  18.  
    HEADLINES
     
  19.  
    FRANCE DEFICIT 07:48:

    France will slightly slow the pace of its deficit reduction, according to the French Finance Minister, Michael Sapin. In an interview on RTL radio he said that the move had been discussed with European partners. Last week new French Prime Minister Manuel Valls vowed to cut both taxes and spending in a bid to make the French economy more competitive.

     
  20.  
    GOOGLE 07:37: BBC Radio 4
    Google logo

    Google's core business is getting a little "dodgy" according Larry Magid, technology analyst for the website C-Net on Today. They are not getting the revenue on phones that they are on the web, he says. "Some of the crazy ideas have got to get a little less crazy and more profitable," he says, referring to new businesses like robotics and drones.

     
  21.  
    DIAGEO 07:26:
    whisky

    The maker of Johnnie Walker whisky Diageo said sales in the three months to the end of March dipped 1.3%, led by a 19% drop in Asia because of political instability in Thailand and weaker China demand. India, where the firm is trying to buy United Spirits, delivered sales growth of at least 10% it said.

     
  22.  
    REMY COINTREAU 07:18:
    glass of scotch

    A cut in ostentatious spending by Chinese officials will hit profit for Remy Cointreau, the French distiller said. Full-year operating profit will fall as much as 40%, as sales in cognac fell 32% in the fourth quarter. The maker of Remy Martin cognac, Cointreau liqueur and Mount Gay Rum said sales for the three months to the end of March fell 16% to 186 million euros (£153m)

     
  23.  
    MULBERRY 07:14:
    Mulberry bags

    Handbag maker, Mulberry is introducing a "more affordable product" as it attempts to reinvigorate sales. It has also warned that pre-tax profit for the year to 31 March will be "marginally" below current expectations. The firm is looking for a new chief executive after the departure of Bruno Guillon last month.

     
  24.  
    CURRY 07:07:
    lamb curry

    A third of lamb curries tested by the Foods Standards Agency were found to contain cheaper meat. While no horsemeat was found in the watchdog's 145 samples, 25 were found to be just beef with no lamb.

     
  25.  
    CHINA WOMEN 07:02: BBC Radio 4

    In China there is an official phrase "left over women". It refers to single, urban women over the age of 27. On Today Leta Hong Fincher from Tsinghua University, says that Chinese state media has been insulting these women with the phrase and pressuring them into finding a husband and settling down.

     
  26.  
    HORSE RACING 06:48: BBC Radio 4
    Future Champion Novices" Steeple Chase

    40% of the population will watch some kind of horse racing during the year, claims Simon Bazalgette, chief executive of the Jockey Club on the Today Programme. That's why sponsors from the Middle East and big companies are keen to get involved in the sport, he says.

     
  27.  
    CO-OP GROUP 06:35: BBC Radio 4

    "Turkeys" and "angry birds" is how Michael Mol, professor of strategic management at Warwick Business School refers to senior managers at Co-operative Group on Today. He is "very worried" about their ability to take the right decisions. He thinks Co-op Group will have to find money to invest in the struggling Co-op Bank, despite only now owning 30% of the lender.

     
  28.  
    EASTER EGGS 06:25: Radio 5 live

    Are the walls of chocolate Easter eggs getting thinner? Yes, says Lee McCoy, editor of Chocolate Reviews, on 5 live. More shocking, there may be a shortage of the Easter treats. It seems Tesco have run out of a number of lines, especially eggs made by Cadbury and Nestle, as well as some Lindt and Mars eggs, the Daily Telegraph reports.

     
  29.  
    FOOTBALL 06:13: Radio 5 live
    Danny Mills, Robbie Savage, 2004

    More from Danny Mills. He's invested in a pasty company through private equity, but would he invest in football? Five-year contracts for staff (footballers) and the highest sporting wages in the world mean it's a game for "billionaires" he said. "You can't blame the footballers," he said, as anyone would take the money offered. Picture above shows Danny in his playing days, exchanging views with fellow BBC pundit Robbie Savage.

     
  30.  
    PASTIES 06:06: Radio 5 live
    Pasties

    Former England and Leeds footballer Danny Mills is part of an investment group that has bought West Cornwall Pasty Company from administrators. He tells 5 live: "There's a gap where banks just aren't lending," he said. The original company's strategy was "too aggressive" and expanded too quickly, which led to its demise. He blamed the pasty tax for the rising price of pasties.

     
  31.  
    CO-OP GROUP 06:01: Radio 5 live

    Michael Mol, professor of strategic management at Warwick Business School is on 5 live talking about Co-operative Group, which releases earnings today. "You have two different issues: the bank issue with huge losses," he said and "the group facing losses from the Somerfield acquisition". More losses could be on the way if they don't reform their governance structure, he said. They also have too many lay members who "don't know how to run a business," he said.

     
  32.  
    GOOGLE 06:00:
    Google building

    Google is likely to be under scrutiny today after it released results late on Wednesday that some considered disappointing. Google still made $3.45bn (£2.05bn) in its first quarter. But some are expressing concern about a surge in costs. That reflects Google's move into new businesses, including robotics and drones.

     
  33.  
    06:00: Howard Mustoe, Business Reporter

    Hello from me. Keep in touch via @BBCBusiness and bizlivepage@bbc.co.uk.

     
  34.  
    06:00: Ben Morris Business Reporter

    Good morning! Watch out for results from Co-operative Group due at 09:00. You can expect Google to be in focus today as well, releasing results which some investors consider disappointing.

     

Features

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.