Netflix is closing in on an enormous milestone.
Netflix ( brought 5 million contributors globally within the first quarter of 2017, bringing its total subscriber base to only shy of ninety nine million customers. That comes on the heels of Netflix’s largest quarter for brand new subscribers ever. , Tech30)
“we predict to move the a hundred million member mark this weekend,” Netflix wrote in its letter to shareholders Monday. “it can be a just right begin.”
And the corporate is planning a significant advertising and marketing push to keep growing. Netflix said it is going to spend more than $ 1 billion this yr to “pressure member acquisition.”
Its persisted subscriber growth follows a call to launch in nearly every country on the planet and invest heavily in original content material to entice clients.
Netflix has found success in the U.S. and out of the country with new authentic displays just like the Crown, Black replicate and Gilmore ladies. Netflix has also invested in exclusive offers with stars who have international appeal, including Shah Rukh Khan and Adam Sandler.
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Netflix has also begun investing in stand up comedy, including a set from Dave Chappelle. not like rival Amazon (, one class Netflix plans to steer clear of is football. , Tech30)
“that’s not a technique that we predict is wise for us on account that we believe we are able to earn extra viewing and pleasure from spending that cash on movies and television presentations,” Netflix wrote within the shareholder letter.
the corporate previously said it expects to take a position greater than $ 6 billion on content material this year, up from $ 5 billion in 2016.
Netflix stock was down about 1% in after hours trading Monday because the subscriber additions had been moderately beneath Wall street estimates.
CNNMoney (the big apple) First published April 17, 2017: 4:38 PM ET
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