Netflix's Q1 earnings showed its recent expansion of original and international content is paying off:
Producing localized international content has been core to Netflix's original content strategy, and so far that seems to be paying off. Paid international subs saw strong growth, reaching 89 million in Q1. That's up 39% YoY from 63 million in Q1 2018, and only a slight deceleration from the 42% YoY growth reported a year ago. And of the 9.6 million paid subs Netflix added in Q1, 7.9 million were international.
Cooking competition show Nailed It! saw its first local adaptation in Mexico this February, where it saw three times the rate of viewership of the Spanish-dubbed version. The show has also been slated for adaptation in France, Germany, and Spain. In its letter to shareholders, Netflix even addressed the entry of Disney and Apple into SVOD through the lens of original content, claiming the new competition will be a boon for content quality. The streaming giant singled out the two, emphasizing that increased competition means a spike in superior content and choice for consumers.
It also indicated it remains confident in its ability to maintain its lead. This falls in line with Netflix's historically viewer-first logic, which emphasizes not only quality but breadth in its offerings.
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