Netflix shares has risen considerably after it announced that it had hit 104 million subscribers worldwide.
The US firm announced that is better-than the predicted figure which is an indication that investment in latest movies and shows are beginning to pay off.
Netflix has worked on shows like 13 Reasons Why, political drama House of Cards, The Crown, as well as about teen suicide.
“It’s the prize you get for doing excellent content”. Said by Boss Reed Hastings.
Netflix stake had an increase of 10% in trading in New York after reporting its second-quarter results.
The company said it got about 5.2 million subscribers within the quarter especially from outside the States.
Movie Risk Paying Off
Netflix has captioned those fans with movies like Okja, a film shut by South Korea’s top ranked directors talking about a little girl’s journey to retrieve a huge companion (mystical elephant) from an organization.
The firm also said it anticipated international subscribers base to increase within the year.
The increase made it easier for Netflix to announce a 32% increase in second quarter and now expect a profit of $2.8bn in the third quarter.
Netflix said “Making fresh content was urgently important to rival opposite online competitors like YouTube and Amazon, and also broadcast television networks.”
“Creating new content also signifies that streaming services were bolstering the size of the overall market.” Netflix said.
Netflix said to stakeholder “The largely exclusive nature of either service’s content means that we are not directly substituting one for each other.”
“The shift away from linear TV to on-demand showing is so huge and there is so much leisure time, a lots of internet TV services will be successful.”