Arrested Development (TV series) (Photo credit: Wikipedia)
Netflix Originals Delivers A Slight Subscriber Increase
Netflix didn't adopt the most complimentary words to describe the impact of Arrested Development, a Netflix Original, on its' results for the 2nd quarter. On Monday, a note to the shareholders, delivered by CEO Reed Hastings, stated that the show provided a slight but appreciable increase to Netflix's subscriber levels. This means that Arrested Development is regarded in the same way as a lethargic insect.
Notwithstanding, Hastings appeared far happier with the way the remainder of the Netflix Originals television shows and films performed. During the 2nd quarter, the membership count for Netflix Originals US increased from 23.94 million to 29.81 million. Furthermore, its' international subscriber base expanded from 3.62 million to 7.75 million.
Sales were boosted by 20%, from $889.2 million to $1.07 billion, and Netflix's net income increased nearly fivefold to $29.5 million. The analysts questioned by Bloomberg had wanted the video streaming provider to end the 2nd quarter with $29.9 million. Maybe the slight miss explains the negative reaction on Wall Street, where shares in Netflix went down by around 6% (to $245.50 per share) during after hours trading.
Overall, Arrested Development appears to have been a flop. Unfortunately, the initial few shows of the most recent season were not exceptionally humorous. These shows needed a great deal of patience, even amongst die hard fans, to keep up to date with all the story lines of the different characters. Although the laughter did pick up later on in the series, the general consensus was that it was too little too late.
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