{"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\/2017\/07\/netflix-says-it-now-has-104-million-subscribers-worldwide\/","title":{"rendered":"Netflix says it now has 104 million subscribers worldwide"},"content":{"rendered":"<p class=\"story-body__introduction\">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<p>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<p>The firm is behind shows such as 13 Reasons Why, about teen suicide, and political drama House of Cards.<\/p>\n<p>Boss Reed Hastings said it was &#8220;the rewards of doing great content&#8221;.<\/p>\n<p>Netflix shares rose more than 10% in after-hours trading following the announcement of its second-quarter earnings.<\/p>\n<p>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<p>They said generating new content also meant streaming services were expanding the size of the overall market.<\/p>\n<p>&#8220;The largely exclusive nature of each service&#8217;s content means that we are not direct substitutes for each other, but rather complements,&#8221; company leaders wrote in a letter to shareholders.<\/p>\n<p>&#8220;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.&#8221;<\/p>\n<figure class=\"media-landscape no-caption full-width\"><span class=\"image-and-copyright-container\"><img loading=\"lazy\" class=\"responsive-image__img js-image-replace\" src=\"https:\/\/ichef.bbci.co.uk\/news\/624\/cpsprodpb\/1131C\/production\/_96982407_5ssgfpdo.jpg\" alt=\"Netflix logo\" width=\"976\" height=\"400\" data-highest-encountered-width=\"624\" \/><\/span><\/figure>\n<p>Netflix said it added about 5.2 million members during the quarter, mostly from overseas.<\/p>\n<p>International members now account for about half of Netflix subscribers.<\/p>\n<p>Netflix has cultivated those audiences with movies such as Okja, a film made by one of South Korea&#8217;s top directors about a young girl&#8217;s quest to recover a giant companion from a multi-national corporation.<\/p>\n<p>The company also said it expected international members to help boost profits for the year &#8211; a first for that part of the business.<\/p>\n<p>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<p>Profits for the three months to June were $65.6m, up about 60% year-on-year.<\/p>\n<p>&#8211;<\/p>\n<p>Source: BBC<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[106],"tags":[3,610],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Netflix says it now has 104 million subscribers worldwide - Citi 97.3 FM - Relevant Radio. 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