In Q4, Netflix added 8.3 million global subscribers, the highest quarter in the company’s history and an 18-percent increase on last year’s record 7.05 million net adds.
In the U.S., memberships rose by 2 million for the quarter, bringing total full-year net adds to 5.3 million. Internationally, the service added 6.36 million memberships.
Netflix took a $39 million non-cash charge in Q4 for unreleased content that it decided not to move forward with.
Revenues for the quarter ended December 31 were $3.29 billion, contributing to the full-year 2017 total of $11.7 billion. Net income for the quarter came to $186 million and $559 million for the year.
“We had a beautiful Q4, completing a great year as internet TV expands globally,” the company said in its letter to shareholders. “In 2017, we grew streaming revenue 36 percent to over $11 billion, added 24 million new memberships (compared to 19 million in 2016), achieved for the first time a full-year positive international contribution profit, and more than doubled global operating income.”
Netflix has also added Rodolphe Belmer to its board, bringing the total number of directors to ten. Since March 2016, Belmer has served as CEO of Eutelsat, the leading satellite operator in Europe, the Middle East and Africa. He previously held several roles at Canal+ Group, which he joined in 2001, most recently serving as its CEO from 2012 to 2015. “We look forward to benefiting from Rodolphe’s wisdom, experience and global perspective as we continue to grow Netflix all over the world,” said Reed Hastings, Netflix’s co-founder and chief executive.