Netflix on the verge of hitting 100 million subscribers

Netflix is preparing to celebrate signing up the 100 millionth subscriber to its online video streaming service, suggesting that people are more interested in watching TV shows and movies than in streaming music, according to an Atlanta Journal Constitution report. The company said it expects to top 100 million this weekend. In the first quarter of 2017, Netflix added 5 million members to the fold, bringing its tally to 98.75 million. If the current trend continues, Netflix could become a global powerhouse that trumps any broadcasting giant in any country.

Wall Street was expecting 5.27 million new subscribers.

Netflix CEO Reed Hastings expected the next 100 million subscribers to come more quickly than the first 100 million.

Up to Monday's close, the company's stock had risen almost 19 per cent this year, outperforming the roughly 5 per cent gain in the broader S&P 500 index.

USA streaming net additions: 1.42 million vs. the firm's estimate of 1.52 million.

In comparison, Netflix gained 7.05 million subscribers in the prior quarter, raising expectations in the market. Analysts predict Netflix will make $482m on revenue of more than $11b for the entire year.

Amazon has had success with original programming like The Man in the High Castle, Transparent and Mozart in the Jungle, but hasn't been able to win over the water cooler conversation that Netflix has been able to do with Orange is the New Black, House of Cards and their Marvel shows. Netflix's services extend from $8 to $12 a month, with the most economical option at $10.

The video streaming service insisted that the lower-than-expected Q1 subscriber growth in both domestic and worldwide markets did not signal any change to its long-term growth expectations. On the other hand, the lack of big-budget productions boosted net income.

The company said first-quarter profit soared to $US178 million, or 40 cents a share, compared with analysts' predictions of 37 cents. Despite a five point drop in its stock price this morning, Netflix is now up a little over three per cent. As part of that, it plans to invest more in programmatic advertising and work more with its growing group of pay-TV provider partners, such as Comcast, Charter and Liberty Global.

Revenue rose 35 per cent to $2.64 billion in the quarter.

In a letter to shareholders, Netflix said it will spend over $1 billion in 2017 on marketing its content to drive member acquisition. If you would like to discuss another topic, look for a relevant article.

Be Civil - It's OK to have a difference in opinion but there's no need to be a jerk.

Related news:

Hot News

isis-killer-beheading-video-story-top Bose headphones spy on listeners: lawsuit
Apr 20, 2017 - 09:19
When interviewed, a lawyer for Zak said, " People should be uncomfortable with it. Zak seeks an injunction to stop Bose from collecting any more data.

isis-killer-beheading-video-story-top Pence says trade with South Korea must change
Apr 20, 2017 - 09:17
Pence repeated the phrase in South Korea, the first stop on his tour, and again during his speech aboard the Ronald Reagan. He called the trade gap with South Korea a "hard truth", with "too many" barriers to entry for US businesses.

isis-killer-beheading-video-story-top Ann Coulter vows to speak at Berkeley
Apr 20, 2017 - 09:16
Pro-Trump supporters, white supremacists, and pro-gun activists clashed with Antifa demonstrators who came to shut them down. Coulter was invited to speak at Berkeley by campus Republicans on the subject of illegal immigration.

isis-killer-beheading-video-story-top NCAA returns tournament games back to North Carolina
Apr 20, 2017 - 09:16
WATCH: Jonah Kaplan's 6 p.m. report on NCAA decisions and impact on CaryCary leaders said they are excited to have soccer. The Human Rights Campaign (HRC) and Equality NC criticized the move in a joint statement.

isis-killer-beheading-video-story-top Meghan Markle Wedding Shoes: 9 Styles Prince Harry's Girlfriend Could Wear
Apr 20, 2017 - 09:15
That move could be another sign that she is trying to get her affairs in order before a potential move to London, Duboff said . To celebrate Prince William and Kate Middleton's fourth wedding anniversary here are their relationship in pictures.

isis-killer-beheading-video-story-top N Korea poses 'most dangerous' threat to Asia-Pacific - Pence
Apr 20, 2017 - 09:14
And the United States will continue to deploy more of its advanced military assets to the region in the years ahead, he added. Pence, his wife Karen and two daughters walked inside the main hall of colorful Senso-ji temple Tuesday as incense burned.

isis-killer-beheading-video-story-top Boston Celtics Have to Start With Defense
Apr 20, 2017 - 09:13
It is about figuring out how to get all this talent to work together, to make things as hard as possible on the Bulls team. Chasing Rondo, one of the worst three point shooters in the league, off the three point line is a problem.

isis-killer-beheading-video-story-top New Orleans Wednesday weather: Mostly sunny with slight chance of rain
Apr 20, 2017 - 09:13
After a partly sunny start this morning, the weather service says overcast skies will dominate by the afternoon hours. According to the weather service, some thunder is likely in the northern half of the area Thursday morning.

isis-killer-beheading-video-story-top Starbucks introduces color-shifting "Unicorn Frappuccino" for a limited time
Apr 20, 2017 - 09:12
The cold drink is made with pink powder blended into Frappuccino Crème, flavored with mango syrup and a layer of blue drizzle. Known for its quirky blended drinks, the coffee shop takes the trend of shimmering unicorn-themed drinks to a new level.

isis-killer-beheading-video-story-top Another nearby planet found that may be just right for life
Apr 20, 2017 - 09:12
In the next few years, telescopes should be able to use the planet's path to examine its atmosphere, Charbonneau said. In the future, they want to use HARPS to continue observing the star and see if there are more planets around it.

'Mr. President, I'm Sorry:' Clinton Apologized To Obama After Crushing Election Loss
Apr 19, 2017 - 01:50
We learn that Bill Clinton did not believe she should apologize, as neither he nor she felt there had been any wrongdoing. In fact, almost everyone in the business of politics thought she would win --including many of Trump's own people.

isis-killer-beheading-video-story-top Trump sees approval ratings falling on all parameters
Apr 19, 2017 - 01:49
A new poll shows President Donald Trump's approval rating reaching 50 percent, its highest-level since mid-March. Fewer Americans think President Trump keeps his promises than two months ago, according to a new Gallup poll .

isis-killer-beheading-video-story-top Saudi oil exports hit 21-month low as kingdom sticks to cuts
Apr 19, 2017 - 01:47
The West Texas Intermediate (WTI) benchmark for US crude futures was down 26 cents, or 0.5%, at $52.92 a barrel at 10:53 a.m. Crude oil declined Monday, but consolidated well off session lows as investors evaluated signs of higher US output.

North Korean missile test fails, US and South Korea say
Apr 18, 2017 - 02:25
The administration's immediate emphasis, the officials said, will be on increasing pressure on Pyongyang with the help of Beijing. Recent satellite imagery suggests the country could conduct another underground nuclear test at any time.

isis-killer-beheading-video-story-top Didier Drogba joins United States side Phoenix Rising as player and co-owner
Apr 18, 2017 - 02:15
The United Soccer League (USL) - the largest Division II professional league in the world and longest standing member of the U.S. Drogba , 39, is a former victor of both the English Premiership and the UEFA Champions League .