Well, it was expected and today it came true. Netflix now has over 103 million subscribers and is close to 104 million total subscribers according to an announcement from Netflix today.
The vast majority of Netflix’s new subscribers (more than 4 million) came from its overseas markets. In fact, Netflix’s international subscriber base is now larger than the U.S. for the first time.
“We underestimated the popularity of our strong slate of content which led to higher-than-expected acquisition across all major territories,” Netflix said in its earnings release.
Netflix’s growth beat their own internal estimates and beat Wall Streets expectations and pushed Netflix up 8% in after hours trading today. This growth was helped by Netflix releasing new seasons of its best known original series, including House of Cards, Orange is the New Black and Master of None.
Now the question is can Netflix keep up this strong growth in the face of growing competition from Hulu and Amazon’s original shows.
“The large-cap tech companies, especially Amazon, are investing heavily in original and licensed content around the world,” Netflix said in its earnings release. “Creating a TV network is now as easy as creating an app, and investment is pouring into content production around the world.”
“We are all co-pioneers of internet TV and, together, we are replacing linear TV,” the company added.
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