As Netflix preps to celebrate its 10th anniversary, the global SVOD entered the year on a high note with fourth quarter financials showing substantial increases in both revenues and net subscribers.
Netflix saw its Q4 revenue hit $2.4 billion, growing 41% year over year. Overall, the SVOD reported $8.3 billion in global streaming revenue in 2016, up 35% from the previous year.
Membership grew world-wide to 93.8 million members, with 19 million net additions over the last 12 months.
The growth coincides with the online streaming service moving aggressively into documentary content over the past year, offering hit titles like Making a Murderer, The Ivory Game (pictured), Into the Inferno and Amanda Knox.
In the Q4, Netflix added 7.05 million subscribers globally, up from the 5.59 million in last years fourth quarter, making it the largest quarter of new net additions in the history of the company and besting forecasts for the quarter of 5.2 million.
Domestically, the company added 1.93 million members in the quarter, exceeding the forecast of 1.45 million and 1.56 million in Q4 2015. Revenues in the home market increased 27% year-over-year to $1.4 billion, the company reported.
Internationally, membership grew by 5.12 million in Q4 against a forecast of 3.75 million and 4.04 million in the year-ago quarter. Nearly half (47%) of Netflix total members are now outside of the U.S.
In a report shareholders, made public Jan. 18, Netflix executives said international growth was “very broad-based geographically as our original content continues to be well-received all over the world.
Netflix also noted that their competition, Amazon Prime Video, recently went global. Prime Video streaming service is now available in over 200 countries and territories.