Velvet rope

16 April 2019 By Jennifer Saba Follow @jennifersaba

The video-streaming service boosted its subscribers by a quarter in the last three months even though it raised prices. It’s now valued at 70 pct more per user than rival Hulu, in which Disney just raised its stake. Netflix’s success isn’t impossible to copy – just very expensive.

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Netflix reported on April 16 that total worldwide paid subscribers for the first quarter increased 25 percent year-over-year to 149 million. Revenue for the quarter rose 22 percent to $4.5 billion. The video-streaming service earned $344 million, or 76 cents per share, compared with $290 million a year earlier.

AT&T on April 15 said it sold a 9.5 percent stake in Hulu back to the video-streaming service for $1.4 billion. The deal values Hulu at $15 billion and leaves Walt Disney with around 66 percent of Hulu, while broadcaster Comcast has about 34 percent.

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