Netflix is all set to hit a major milestone this weekend


Netflix is all set to hit a major milestone this weekend

"If you don't own it because you think Netflix was spending too much money to invest in said growth, you still feel the same way".

In North America, key releases this past quarter included A Series of Unfortunate Events, a dark comedy, Santa Clarita Diet, a "zom-com" starring Drew Barrymore, and Ultimate Beastmaster, Netflix's first competition show that pits athletes from around the globe against a fearsome 600-foot obstacle course.

"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 strong earnings by Netflix were posted on Monday.

However, if theatres wanted to pick up a Netflix original such as the upcoming Will Smith film Bright, they would only be able to show it at the same time as Netflix.

Before he signaled the interviewees to end the session, Hastings let us all in on how he sees the future of Netflix, a service that is streaming a little more than one billion hours of content per week. The late rise put Netflix stock on track to open at a record high on Tuesday.

Despite the growth, subscription numbers fell short of expectations - the company previously predicted 1.5 million in the US and 3.7 million internationally. Revenue was projected to increase 35 percent year over year to $2.64 billion in the first quarter.

The streaming company made the pledge as it revealed its worldwide business registered a profit for the first time on the back of revenues that hit the $1 billion mark.

The earnings beat was due to the change in timing of "House of Cards", which helped push costs into the second quarter, boosting operating margins from January through March and reducing them in the second quarter. Consolidated revenues rose to $2.6 billion, delivering a net profit of $178 million.

"We remain incredibly excited about the opportunity in front of us to build a truly global and durable internet TV business", Hastings said in a letter to investors. Netflix will spend more than $1 billion in marketing this year to drive customer acquisitions. We use cookies to improve your browsing experience.

Global net additions decreased 22% year over year, as we lapped our January 2016 launch of over 130 countries, and the accompanying early surge demand, in Q1 2016.



© 2015 Leader Call. All Rights reserved.