Tuesday, July 27, 2021

NETFLIX SAYS IT NOW HAS 50 MILLION SUBSCRIBERS

July 22, 2014 by · Leave a Comment 

After adding 1.69 million subscribers in its last quarter, Netflix said Monday that it had crossed the 50-million mark worldwide, with 36 million in the U.S. alone. The company credited original programming, such as the political drama House of Cards, the horror series Hemlock Grove and the prison dramedy Orange Is the New Black, for the latest subscriber surge. After relegating its DVD-by-mail movie rental service to a peripheral business, Netflix is becoming an alternative TV utility in many homes, where families now download entire seasons of TV shows and watch them in marathon sessions. Netflix indicated that around two-thirds of its new subscribers in the last quarter came from overseas — about 1.12 million versus 570,000 in the U.S. Its total revenue in the quarter climbed to $1.34 billion, up 25 percent from the comparable period in 2013; profit nearly doubled to $71 million.