Netflix hits record $100bn
24 million customers in 2017, global total to 117.6 million
The online entertainment company surged a record $100bn trade on Monday. A first for Netflix, ever. Netflix acquired 24 million customers in 2017, bringing its global total to 117.6 million. That is a super crush for the Wall street and the company plans to pursue the same in 2018.
The ambitious Netflix has now made its niche in the likes of Goldman Sachs and Qualcomm. While the competition was looking into other areas Netflix just pushed towards making a stronger customer base alongwith prioritizing sales – irrespective of any encumbrances.
Netflix has said it will spend as much as $8bn on programming this year, and disclosed Monday plans of putting in another $2bn for marketing. Netflix is also throttling an increase in its non-English programming, with plans to release 30 demographically targeted language productions in 2018.
International viewership accounted for the major chunk of the subscriber rate increase and is the magic effort to Netflix’s future. 6.36 million topping the 5.05 million average of analysts’ estimates. According to Netflix Rodolphe Belmer, CEO of France Eutelsat Communications will be onboard Netflix’s team.
Netflix churns out an array of novel shows every month to involve new viewers while retaining the viewer loyalty.
“In only five years since launching our first original series, Netflix had three of the top five most searched TV shows globally for the second year in a row,” the company said in its letter to shareholders. Where in USA the company earns a hefty profit it is indeed the International expansion that led to this dynamic surge and a commitment to deliver saw this surge on Monday.