Netflix on the verge of hitting 100 million subscribers

Reuters

Netflix isn't too anxious about competition from fellow streaming services.

Loop Capital Markets highlighted in a note, the above-consensus second-quarter subscriber guidance Netflix, Inc.

The service added almost 5 million subscribers during the first three months of the year in roughly 190 countries.

An analyst from Wedbush Securities said that the boom of smartphones and tablet devices paved the way for people to watch and stream video anywhere, especially with the ability to download content for offline watching. However, Netflix clearly has faith in its on prowess.

The company expected it would add about 8.15 million subscribers overall during the first half of this year as compared with 8.42 million in the same period in 2016. Netflix guided to Q2 USA and global net additions of 600,000 and 2.6 million, respectively, both above previous expectations, driven in part by an anticipated stronger content line-up, including new seasons of House of Cards, Orange Is the New Black, and the just launched 13 Reasons Why. "We are making good strides in improving our content offering to match local tastes in Asia, Middle East, and Africa, but have much progress to make, like in Latin America a few years ago". If Netflix's projections prove accurate, it will increase its total streaming membership to 101.95 million users.

The Los Gatos, California company now has a market value of about $63 billion. However, Netflix did provide upbeat guidance for second quarter subscriber additions at 3.2 million, well above the 2.54 million subscribers analysts were expecting.

Shares of Netflix fell 2.3 per cent to $US143.80 in extended trading after results were announced. Both Amazon and Netflix have also been investing heavily in original programming to win subscribers to their on-demand video services. Netflix's services extend from $8 to $12 a month, with the most economical option at $10.

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The 100 million subscribers milestone is a testament to how much Netflix has changed the entertainment landscape.

Netflix, on the other hand, has no plans to do either.

On Monday, the company reported that its Q1 2017 streaming revenues surpassed $2.5 billion.

As of the end of March, Netflix had 98.75 million global streaming members.

Aggressive marketing is still a huge part of Netflix's expenditure - $1bn expected this year - so it shows those new subscribers really aren't coming easy.

Netflix hasn't given any inkling it will raise prices again. When you look at Facebook's, multi-billion numbers.

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