Netflix Approaches To Hit 100 Million Subscribers

Andrew Cummings
April 22, 2017

The company had earlier said this quarter would be somewhat slower on the back of a strong comparison year and new series releases weighted towards the second half.

After registering around 5 million subscribers in the first three months of the year, Netflix was expected to end March with 98.7 million customers in roughly 190 countries.

'But Netflix clearly had a vision before those devices became so ubiquitous'. The company now has over 98.75 million subscribers and it expects to pass the 100 million milestone by this weekend.

About 51 million of Netflix's subscribers are in the U.S.

"The opportunity provided to us by the growth of the global internet is big and our plan is to keep investing as we increase membership, revenue and operating margins", Netflix CEO Reed Hastings wrote in the quarterly shareholders letter. Advancement toward that lofty goal has assisted the company's stock price to go on higher over the last five years.

Netflix is set to surpass 100 million global subscribers. The company is moving most of its production to California, investing billions more. Netflix finished 2016 with 93.8 million subscribers worldwide.

And it may only get harder for the streaming company as more competitors like Amazon and Hulu, which also have a lot of critically acclaimed shows, begin to hit their stride.

The struggle to add subscribers could also boil down to a more competitive landscape, Verna said.

'The model works from a consumer perspective because it is such a good value, ' Pachter said.

Netflix shares dipped and then rose in after-market trades that followed release of the quarterly earnings figures, eventually gaining more than a percent to reach $149.25. "We definitely have YouTube envy".

Netflix, on the other hand, has no plans to do either. This year, Netflix thinks it will spend about $6 billion on programming.

Netflix has expanded around the world over the last few years, betting that its US formula would pay off in other countries.

According to Netflix they have experienced a net increase of 4.95 million subscribers.

The company is planning a significant marketing push to keep growing.

Popular video streaming service Netflix Inc NFLX.O added fewer subscribers than analysts' had estimated, both internationally and in the United States, in the first quarter, sending its shares down about 3 percent after the bell on Monday.

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