Netflix has gained 7 million new subscribers in the last quarter of 2016. That’s 1.8 million more than what analysts expected. The unexpectedly good quarterly figures have also increased the value of the share by 8 percent.
The company announced that 2 million new subscribers domestically (that is in the US) and about 5 million subscribers internationally (so that is 7 million in total) registered for its live stream service in Q4, 2016. The results beat the estimation of 1.38 million new domestics and 3.78 million new international subscribers by Wall Street.
Two different strategies
The Netflix growth is interesting because the company has been concentrating on the making of original content, but mostly within the US. Elsewhere, Netflix has been focusing on expanding and reaching new countries. However, the two completely different strategies have apparently paid off.
Series like The Crown based on the early years of Queen Elizabeth II, The Gilmore Girls and Black Mirror are especially responsible for growth.
Reach the milestone
The US-based provider of internet television has 94 million subscribers worldwide. The company will reach the milestone of 100 million this year. Netflix said it has plans to invest 5.6 billion for new productions.