Netflix managed to hit a new milestone recently, surpassing 60 million subscribers. The surge in newcomers is largely down to the service’s international expansion, hitting new countries like Australia. Although, the majority of subscribers are still from the US.
40 million Netflix subscribers reside in the US, or are at least using a VPN to make it look like they do. A further 20 million subscribers are from overseas. As you can imagine, revenue has also been climbing alongside the subscriber count.
During the latest Netflix quarterly earnings report, it was shown that the company’s revenue has risen to $1.57 billion, compared to $1.27 billion during the same quarter last year. Profits did shrink though, from $53 million during this time period last year to just $23 million.
The drop in profit is likely down to Netflix’s increased investment in to its own TV shows. The company has been producing a lot of shows, including the recently released Daredevil TV series. It also has four movies in the works with Adam Sandler.
If Netflix continues to crank out high quality shows like House of Cards, Orange is the New Black and Daredevil, then its subscriber count will only increase. Especially since the company is rapidly expanding outside of the US.
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KitGuru Says: Netflix is doing fairly well financially, which is good to see, especially since the company is creating so much high quality original programming. I actually just got done watching Daredevil over the weekend, I would highly recommend it. Do any of you guys use Netflix? If not, what is stopping you from subscribing?