Netflix Breaks 50 Million Subscriber Mark Bolstered By Original Programming
Disputes with ISPs over the quality of streaming traffic hasn't slowed Netflix down when it comes to adding subscribers. According to the company's most recent financial report, Netflix is now home to over 50 million total members for its streaming service, three-quarters of which are located in the United States. That figure that also includes free trial memberships.
A big reason's for Netflix's continued success is its lineup of original programming. Shows like "House of Cards" and Orange is the New Black" are proving highly popular, and unlike regular television shows, Netflix releases an entire season at once. This allows viewers who are hooked on a series to binge watch, though the downside to this is that once you blast through a season, it's a long wait for the next set of episodes.
In its latest earnings report, Netflix reported it now has just shy of 48 million paid subscribers, up 34.7 percent from the same quarter a year ago. The bump in subscribers led to a 25.3 percent jump in total revenue to $1.34 billion, along with net income of $71 million, or $1.15 per share, which is more than double of last year's $29.5 million profit.
This is a "told you so" moment for Netflix, which has been investing heavily into streaming content rather than continuing to dump money into its DVD-by-mail business. Even so, there's lots of room for growth as Netflix looks to expand its reach around the world.
“Ninety-five percent of people who live on the planet live outside the United States, and generally for global Internet businesses about 80 percent of the usage is outside the U.S.," Hastings told The New York Times in a telephone interview. "We want to bring our services to as many nations as possible."
Netflix's biggest challenge at the moment is getting high quality streams into homes without having to pay tolls along the way. Though evidence suggests otherwise, ISPs like Verizon insist that the issue is not one of intentional throttling.
A big reason's for Netflix's continued success is its lineup of original programming. Shows like "House of Cards" and Orange is the New Black" are proving highly popular, and unlike regular television shows, Netflix releases an entire season at once. This allows viewers who are hooked on a series to binge watch, though the downside to this is that once you blast through a season, it's a long wait for the next set of episodes.
In its latest earnings report, Netflix reported it now has just shy of 48 million paid subscribers, up 34.7 percent from the same quarter a year ago. The bump in subscribers led to a 25.3 percent jump in total revenue to $1.34 billion, along with net income of $71 million, or $1.15 per share, which is more than double of last year's $29.5 million profit.
This is a "told you so" moment for Netflix, which has been investing heavily into streaming content rather than continuing to dump money into its DVD-by-mail business. Even so, there's lots of room for growth as Netflix looks to expand its reach around the world.
“Ninety-five percent of people who live on the planet live outside the United States, and generally for global Internet businesses about 80 percent of the usage is outside the U.S.," Hastings told The New York Times in a telephone interview. "We want to bring our services to as many nations as possible."
Netflix's biggest challenge at the moment is getting high quality streams into homes without having to pay tolls along the way. Though evidence suggests otherwise, ISPs like Verizon insist that the issue is not one of intentional throttling.
