Oct 18, 2018 | Updated: 04:34 PM EDT

Netflix Subscribers Pass 50 Million: Original Series 'Orange is the New Black', 'House of Cards' Increase Revenue, Streaming Video Company Sets Sights Worldwide

Jul 23, 2014 03:27 AM EDT


After gaining 1.69 million more subscribers during the quarter that ended on June 30, on-demand video company Netflix Inc. has reached the 50 million mark at 50.05 million members it said on Monday, The New York Times reported.

Attributing its success to original programs, such as "Orange Is the New Black" about women's prison drama, which released its second season in June, the subscriber count in the U.S. alone has reached 30 million.

Netflix has also drawn more viewers as the company heavily invested in producing its own shows including horror series "Hemlock Grove" by Eli Roth and "House of Cards," a political drama starring Kevin Spacey.

The newer subscribers were mostly from outside the United States with about 1.12 million from abroad and 570,000 new U.S. subscribers signed up last quarter. Currently, about three-fourths of its membership base comes from the U.S. and the company aims to draw more members from all over the world.

Chief Executive of Netflix Reed Hastings said in a telephone interview that the company wants to deliver its services to as many nations as possible, especially since 95 percent of the people in the world live outside the United States.

Netflix has successfully increased its number of paid subscribers by 34.7 precent from last year to a total of 47.99 million last quarter. This growth also drove an increase in total revenue by 25.3 percent, a total of $1.34 billion with a net income of $71 million at $1.15 a share, according to LA Times. With the huge domestic success, Netflix's next step is aiming for an international growth. Now available in 40 countries, the company plans to penetrate a number of European markets this coming September, such as Belgium, Austria, Luxembourg, France, Germany and Switzerland.

Netflix is forecasting its continued growth next quarter to a membership base of 53.74 million -- a 3.69 million increase from the quarter that just ended.

©2017 Latinpost.com All rights reserved. Do not reproduce without permission. The window to the world of Latin Post.
Real Time Analytics