Netflix to Hit 100 Million Subscribers This Weekend

Netflix to Hit 100 Million Subscribers This Weekend

With Amazon earning a big credibility bump for Manchester by the Sea, the biggest way to make up ground on Netflix may be with movies vs. TV. "In Q1, we surpassed $2.5 billion in quarterly streaming revenue and added 5 million members".

Netflix's marketing budget has almost doubled over the past few years from $607,186 in 2014 to a forecast of more than $1 billion this year. "But Netflix clearly had a vision before those devices became so ubiquitous".

Netflix increased its number of members to 98.75 million, including 94.36 million paid, in the first quarter of 2017. If you are accessing this news story on another publication, it was illegally copied and republished in violation of USA and worldwide trademark & copyright laws.

Netflix added almost five million subscribers worldwide in the first quarter of 2017, down from more than seven million subscribers it added the quarter before that.

Helped by a rally in technology stocks, Netflix has soared 15 percent this year.

In comparison, Netflix gained 7.05 million subscribers in the prior quarter, raising expectations in the market.

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The Los Gatos, California-based company said net income rose to $178 million, or 40 cents per share, compared with $28 million, or 6 cents per share, in the year-ago period.

Netflix has expanded around the world over the last few years, betting that its USA formula would pay off in other countries. Other cable channels are also offering internet-only options as more viewers avoid other traditional TV packages and get a subscription for streaming services.

"The disclosure that Netflix is going to pass the 100mn subscriber count this weekend suggests it is trending ahead of schedule towards its sub guidance for 2Q17", wrote Mark May of Citi Research in a research note. The streaming service is also benefiting from original content.

Growth and competition were a key topic of discussion during the company's earnings interview.

The model works from a customer viewpoint because it is such a great value, Pachter said. Because of this change in timing, Netflix guided for strong subscriber adds in the second quarter, including 850,000 domestic adds and 2.8 million global adds, both of which were higher than Graham's previous estimate.

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