Back in January, Netflix sat at just over 93 million subscribers, with plans to spend around $6 billion producing new original shows and movies in an effort to boost the company over the 100 million subscriber mark. Now, that milestone has been achieved, with Netflix announcing that it now has 104 million subscribers, as of Q2 2017.
Since the start of the year, Netflix has managed to gain 11 million subscribers, putting Netflix on course to hit its 128 million subscriber target by 2022. That said, if Netflix can produce more hits like Stranger Things, then we could see momentum pick up even further.
By contrast, Amazon’s Prime Video service currently has around 60 million active users, so Netflix is ahead by quite some margin. However, a big part of Netflix’s growth is due to its worldwide availability, with the service now in more than 180 countries. Netflix has also been pushing for global streaming rights, particularly after the company placed a ban on VPN usage.
As a result of Netflix’s better than expected 2nd quarter, share prices went up by around 10 percent. Netflix is still planning to spend around $15 billion producing movies and TV shows over the next five years.
KitGuru Says: Netflix has been doing very well when it comes to consistently delivering new, exclusive content. I just recently got hooked on Glow, so I am looking forward to seeing what else comes out this year. Do many of you still use Netflix regularly? Do you think the library outside of the US still needs improving?