Netflix Original Shows Added 4.14 Million International Subscribers—Quarterly
Netflix, founded 20 years ago and the company started video streaming a decade ago after this long struggle company hits another milestone in international subscriptions—a key to sustainable growth for Netflix.
According to Reuters, Netflix revealed the number of international subscribers reached 52.03 million while domestic customers totaled 51.92 million, Netflix said on Monday.
The company is performing well in the stock exchange with 10.5% increase in shares, the current share price is $178.72. The company is valued at $7 billion.
This performance is followed by the Netflix’s decision on streaming original shows, according to Morgan Stanley an asset management and financial research company headquartered in New York, “The rapid growing content offering led by originals that in aggregate garnered 91 Emmy nominations last week drove stronger new sign-ups.”
According to FactSet, the company has more than 100 million subscribers globally, they have added 4.14 million more subscribers from international markets in this quarter, the company has beaten the average estimate of 2.59 million and that is a remarkable performance.
Many analysts have criticized Netflix for spending too much on content, but Netflix is aggressively spending on content in order to gain more international subscribers.
Video streaming giant has unveiled its plans earlier to invest $6 billion in original shows for this year and expected to get positive cash flows of $2 billion to $2.5 billion. The company also planned to enter the Chinese market and integrated technological advancements by introducing Dolby Atmos sound in the TV shows.
This was the great decision by Netflix and its courage to spend lavishly on content leaving all the critiques behind to catch the dust.
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