Netflix Reaches 75 Million Subscribers Worldwide
Netflix is the king of online streaming, and the latest quarterly earnings indicate that the streaming service won’t be relinquishing that crown any time soon. Following a successful international expansion, Netflix has announced they have reached 75 million subscribers worldwide!
Following the broad international expansion in the fourth quarter of 2015, Netflix has announced that they signed up way more people than they expected to with the expansive launch. This allowed them to outpace even the most optimistic Wall Street predictions, as Netflix is now sitting pretty at a whopping 75 million subscribers worldwide.
The 75 million number was confirmed by Netflix CEO Reed Hastings and CFO David Wells, who issued a letter to investors stating that the milestone was surpassed on Jan. 1. On the one hand, the milestone missed out on the fourth quarter cut-off by just a few hours. On the other hand, this bodes well for an outstanding Q1 for 2016.
“Our quarter?end 74.76 million members put us at over 17 million net additions for the year, showing how much the world is embracing Internet TV,” the letter read. The letter would go on to trumpet Netflix’s upcoming slate of original programming, such as second seasons for Daredevil and Unbreakable Kimmy Schmidt, and the debut of The Get Down, an original series starring Jaden Smith from Moulin Rouge director Baz Luhrmann. All in all, it’s expected that original content will increase by roughly 33%, which adds up to around 600 hours of brand new, original programming. Hastings and Wells write that this will “allow for greater creative and business control and to ensure global access to content.”
Congratulations to Netflix on reaching this huge milestone! It’s well-earned and well-deserved. Hell, I don’t know what I’d do without my subscription.
For more on Netflix, check out the first-look at Baz Luhrmann’s The Get Down!