Netflix subscriptions have surpassed the milestone of 100 million, the company has revealed in its report for Q2 2017. Wall Street's expectations for the Netflix TV streaming service were exceeded, with the Netflix share currently trading at an all-time-high of $175.18.
Wall Street expected 3.2 million additional subscriptions for Netflix during the second quarter of 2017, however, the company notes that it gained 5.2 million new Netflix subscribers. The company reveals that its revenue in Q2 2017 rose 32%, currently standing at $2.79 billion.
What is more interesting is the fact that Netflix now has more international than domestic members. According to the report, 50.1% of Netflix subscriptions are from outside the US. In the meantime, the company is still gaining new members in the United States.
Specifically, in the US Netflix gained 1.07 million additional subscribers, beating analysts' estimates of 631.000. In its quest to become the world's top movie streaming and TV streaming service, Netflix is spending $6 billion a year on content. That investment seems to be giving back more each quarter.
Netflix' rise to the top
Of course, the impressive increase of Netflix subscribers isn't something that occurred out of the blue. Netflix has managed to create one of the most appealing streaming services in the world and that is paying off.
TV series such as “13 Reasons Why” and the new season of “House of Cards” helped Netflix push beyond 100 million subscribers. New subscriptions poured in especially as the former gained fame.
The news for a successful second quarter comes on the back of Netflix's huge Emmy nominations haul. Last week, the Television Academy nominated 27 Netflix original programs with 91 Emmy nominations.
Five of the 14 total nominated best series contenders are Netflix original programs, including the popular “Stranger Things” and “House of Cards”.
In addition, the company has invested in non-English language originals such as “Ingobernale”. The movie has attracted several subscribers from outside Mexico.
Likewise, the company's first original from Spain, “Las Chicas del Cable”, attracted a big number of subscriptions from the Spanish-speaking world outside the US.