Netflix’s subscriber numbers are showing no signs of slowing.
Yesterday (July 17) the service made its Q2 2017 results public, reporting that streaming membership grew more than expected, from 99 million to 104 million.
The streaming service, which crossed the 100 million subscriber mark in April, also reported that its international segment now accounts for 50.1% of its membership base.
“In Q1, we underestimated the popularity of our strong slate of content which led to higher-than-expected acquisition across all major territories,” the company noted in a report.
In the past quarter, the SVOD giant premiered 14 new seasons of global Netflix original series, 13 original comedy specials, six original documentaries, two original documentary series, nine original feature films and seven seasons of original series for kids.
Ted Sarandos, chief content officer, pointed to the strong slate of popular content throughout the quarter, including the premiere of the YA series 13 Reasons Why, new seasons of House of Cards and Orange is the New Black, and ending with the action-adventure film Okja.
“We’re a super network that addresses content desires and needs across the board, including unscripted, but also kids and film,” said Sarandos (pictured).
He pointed to the 91 Emmy nominations Netflix gained last Thursday (July 13) as an indication of the company’s success. The nine nods Netflix scored in unscripted included Chef’s Table and The Keepers, each nominated in the Documentary or Non-fiction Series category, and 13th and Amanda Knox, nominated in the Documentary or Non-fiction Special category.
“We’re just seeing that the rewards of doing great content focusing on the quality of the service are paying off,” said Reed Hastings, co-founder and CEO of Netflix, in the company’s earnings interview.
Going forward, the company noted that guidance assumes good trends, but it is cognizant that it can be difficult to predict the success and popularity of different content across the world.
“Our major driver is the adoption of Internet television,” said David Wells, CFO.
To help meet the demands of global subscribers, Netflix will be upping its local production. While Hastings noted the company is doing quite well in North America, Latin America and Europe, it still has a lot to learn about the Asian audience.
“We’re expanding a lot in Indian [and] Japan, and we’re learning market by market,” said Hastings.
According to the Los Gatos, California-based company’s earnings report, revenue rose 32.3% to US$2.79 billion in the quarter.
The company’s net income rose to $65.6 million, or 15 cents per share, in the latest quarter from $40.8 million, or 9 cents per share, a year earlier.