Netflix reached 117.6 million subscribers worldwide

© Provided by: capital.gr

Netflix subscribers are rapidly growing around the world (and in Greece), reaching 117.6 million at the beginning of 2018.

This development, which surpassed investors’ expectations, prompted Netflix’s market value in Wall Street for over 100 billion dollars for the first time.

In the last quarter of 2017, the company “closed” two million more subscribers than its original estimates, tripling its profits.

Netflix has now penetrated more than half of US broadband affiliates and “builds” an increasing customer base in 190 countries, investing billions of dollars in producing new films and series.

In the quarter October-December 2017, Netflix earned nearly two million new subscribers in the US and another 6.4 million in the rest of the world.

“Netflix is ​​investing more and more money to create content and this translates directly into more subscribers. He sees a tremendous opportunity and moves as fast as he can to take advantage of it”,

said analyst Richard Greenfield of BTIG, according to the Reuters agency.

The company chose to be charged a loss of $39 million when it stopped working with actor Kevin Spacey after the scandal broke out against him. Netflix temporarily stopped production of the House of Cards series to “delete” the role of Spacey and also decided not to release the ready-made movie “Gore” starring as Gore Vidal.

The rise of Netflix has been impressive, as a company that has been handling DVD video cassettes by mail, has grown into a film and series giant that is distributed online to subscribers. In 2018 plans to invest up to $8 billion in productions, having to face competitors like Walt Disney and Amazon’s Hulu.

Last October Netflix raised its prices to most of its subscriptions in order to finance its large investments. Its revenue in the last quarter of 2017 reached 3.3 billion dollars. Investors are confident that the company will grow further, so its share moves upwards.

SOURCE: ANA-MNA

 

Source: www.capital.gr

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