{"id":337305,"date":"2017-07-18T07:04:40","date_gmt":"2017-07-18T07:04:40","guid":{"rendered":"http:\/\/citifmonline.com\/?p=337305"},"modified":"2017-07-18T07:04:40","modified_gmt":"2017-07-18T07:04:40","slug":"netflix-says-it-now-has-104-million-subscribers-worldwide","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=337305","title":{"rendered":"Netflix says it now has 104 million subscribers worldwide"},"content":{"rendered":"

Netflix shares surged on Monday after the firm said it now had about 104 million subscribers, a larger-than-expected number that boosted revenues.<\/p>\n

Company leaders said the gains were a sign that investment in new shows and movies was paying off as online television becomes more popular.<\/p>\n

The firm is behind shows such as 13 Reasons Why, about teen suicide, and political drama House of Cards.<\/p>\n

Boss Reed Hastings said it was “the rewards of doing great content”.<\/p>\n

Netflix shares rose more than 10% in after-hours trading following the announcement of its second-quarter earnings.<\/p>\n

Company leaders said new content creation was critical to competing against other online rivals such as Amazon and YouTube, as well as traditional television.<\/p>\n

They said generating new content also meant streaming services were expanding the size of the overall market.<\/p>\n

“The largely exclusive nature of each service’s content means that we are not direct substitutes for each other, but rather complements,” company leaders wrote in a letter to shareholders.<\/p>\n

“The shift from linear TV to on-demand viewing is so big and there is so much leisure time, many internet TV services will be successful.”<\/p>\n

\"Netflix<\/span><\/figure>\n

Netflix said it added about 5.2 million members during the quarter, mostly from overseas.<\/p>\n

International members now account for about half of Netflix subscribers.<\/p>\n

Netflix has cultivated those audiences with movies such as Okja, a film made by one of South Korea’s top directors about a young girl’s quest to recover a giant companion from a multi-national corporation.<\/p>\n

The company also said it expected international members to help boost profits for the year – a first for that part of the business.<\/p>\n

The growth helped Netflix to report a 32% rise in second quarter revenues to $2.8bn, and it expects revenues to reach nearly $3bn in the third quarter.<\/p>\n

Profits for the three months to June were $65.6m, up about 60% year-on-year.<\/p>\n

–<\/p>\n

Source: BBC<\/p>\n","protected":false},"excerpt":{"rendered":"

Netflix shares surged on Monday after the firm said it now had about 104 million subscribers, a larger-than-expected number that boosted revenues. Company leaders said the gains were a sign that investment in new shows and movies was paying off as online television becomes more popular. The firm is behind shows such as 13 Reasons […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[106],"tags":[3,610],"class_list":["post-337305","post","type-post","status-publish","format-standard","hentry","category-technology","tag-ghana-news","tag-netflix"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/337305","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=337305"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/337305\/revisions"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=337305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=337305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=337305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}