Netflix has posted its financial results for Q2 of 2017 and to quote the firm, “it was a good quarter”.
Indeed it was as Netflix subscribers climbed to 103.95 million subscribers. In Q2 of 2016 this number was 83.18 million.
This past quarter is also the first time that the service’s international subscribers have outweighed US subscribers. The total membership base of the streaming service outside of the US is now 50.1%. This is a 57% increase year-on-year, and Netflix expects to report positive international profit for 2017.
Despite the success there is competition marching in from the likes of Amazon and well established competitors such as AMC and the BBC.
“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,” said Netflix while adding that creating a TV network in now as easy as creating an app.
So as always Netflix is betting on its original programming to draw in subscribers, and by all accounts it’s working. The firm expects to add 3.65 million new subscribers by Q3 2017.
Just last week 27 Netflix Originals received 91 Emmy nominations. This plucky little streaming service now has more nominations than any other TV network.
“The internet may not have been great for the music business due to piracy, but, wow, it is incredible for growing the video entertainment business around the world,” the firm said.