Netflix announced in April 2017 that it crossed 100 million subscribers. The numbers are gigantic enough to make this global video streaming service to stand out from the rest. An increased consumer base means an increased revenue for the company which Netflix announced yesterday.
According to the announcement made by Netflix the company made $2.785 billion in revenue in the second quarter of 2017 and scooped a net profit of $66 million. This is 50 about percent high from the income in the same time period in 2016.
Netflix also gave investors a good reason to look up to it. The enterprise added 5.2 million new customers in the second quarter this year. There was an estimated figure of 3.2 million new customers which Netflix crossed with an unexpected difference. Its performance from outside the US is also something to keep an eye at. According to the latest announcement, 1.1 million new customers were from the US whereas 4.1 million consumers are from overseas. This is a good reason for Netflix to rejoice since its major investments are focused outside the US.
In a letter sent out to investors, Netflix wrote about its latest accomplishments."The volume and breadth of our releases in Q2 exemplify our commitment to serve the desires of our diverse and growing audience. We premiered 14 new seasons of global Netflix original series, 13 original 2 comedy specials, 6 original documentaries, 2 original documentary series, 9 original feature films and 7 seasons of original series for kids."
With a number or television programs already making a strong case for this multinational, bringing in several Emmy awards for it, the company now aims at film-making business. The letter read further, "We understand that our approach to films - debuting movies on Netflix first - is counter to Hollywood's century-old windowing tradition. But just as we changed and reinvented the TV business by putting consumers first and making access to content more convenient, we believe internet TV can similarly reinvigorate the film business (as distinct from the theatrical business). This year we will release 40 features that range from big budget popcorn films to the grassroots independent cinema."
Netflix continues investing enormously in original content, luring investors to supplement its cash flow in order to create more programming. With an exponential growth of its business in the US as well as overseas each quarter Netflix has indeed proved its worth.