Netflix has signed up more than half of all U.S. broadband households and is building its customer base in 190 countries making the company worth more than $100 billion.
Netflix picked up 6.36 million subscribers in international markets from October through December, when it released new seasons of critically acclaimed shows “Stranger Things” and “The Crown” as well as Will Smith action movie “Bright.” That topped Wall Street expectations of 5.1 million, according to FactSet.
“Netflix is pouring more and more money into making content, and it is directly translating into more subscribers,” BTIG analyst Richard Greenfield said. “They see a huge opportunity and they are moving as fast as they can to attack it.”
This content will be key to its future success as Disney looks to start their own streaming channel.
Disney currently owns Marvel which shows on the Netflix platform.
The company also took a $39 million non-cash hit for “unreleased content we’ve decided not to move forward with.” probably referring to the content starring Kevin Spacey, with whom Netflix cut ties after he was accused of sexual misconduct.
Netflix has come a long way in the last 19yrs originally starting as a DVD mail order service before adapting to its environment and bringing out a on demand video service before moving to the streaming platform.
Shares in the company have now risen to $284 USD.