Trending: The most powerful console yet, or a refrigerator? Reactions to Microsoft’s new Xbox Series X
Netflix CEO Reed Hastings. (GeekWire File Photo / Kevin Lisota)

Netflix marked a decade since the launch of its streaming service by adding more than 7 million new members globally in the December quarter, eclipsing its forecast of 5.2 million net additions.

The streaming video giant’s revenue of $2.48 billion was in line with Wall Street expectations, and its earnings of 15 cents a share was ahead of many analysts’ projections.

“This quarter marks the 10-year anniversary of our launch of streaming,” the company’s executives write in their quarterly letter to shareholders. “The next decade will be even more amazing and tumultuous as internet TV supplants linear TV, and as we strive to remain a leader.”

Here’s how the Netflix letter sums up the competitive landscape.

Internet video is a global phenomenon. Amazon Prime Video expanded recently to match our territory footprint, while YouTube remains far larger than either of us in terms of global video enjoyment minutes. Video consumption is growing on Facebook, and Apple is rumored to be adding video to its music service. Satellite TV operators are moving to become internet MVPDs, such as ViaSat to ViaPlay in the Nordics, DISH to Sling, and DirecTV to DirecTV Now. Insurgent firms such as in France and Hulu are building native-internet interfaces for TV network bundles. CBS is releasing a major original series (Star Trek) exclusively on its domestic SVOD service (with us as international partner). Finally, the BBC has become the first major linear network to announce plans to go binge-first with new seasons, favoring internet over linear viewers. We presume HBO is not far behind the BBC. In short, it’s becoming an internet TV world, which presents both challenges and opportunities for Netflix as we strive to earn screen time.

Earlier today, Netflix announced that it had landed a deal to stream Jerry Seinfeld’s web series, “Comedians in Cars Getting Coffee,” which has previously run on Sony’s streaming service Crackle.

Netflix’s quarterly earnings interview streams at 2 p.m. Pacific today, and you can watch below.

Like what you're reading? Subscribe to GeekWire's free newsletters to catch every headline


Job Listings on GeekWork

Find more jobs on GeekWork. Employers, post a job here.