Netflix profits double as it passes 50 million subscribers
Tuesday 22 July 2014
Netflix surpassed 50 million subscribers as its second quarter profits doubled helped by its original hit shows like jail comedy-drama “Orange Is The New Black,” the company said late on Monday.
Netflix also said it will launch in Germany, France, Austria, Switzerland, Belgium and Luxembourg in September.
“Even after our upcoming expansion in Europe, we’ll only address about one-third (271 million of 728 million) of current global broadband households, providing a great opportunity to build on our international success beyond 2014,” said Netflix in a letter to investors.
Netflix’s quarterly revenues rose from $1.07 billion to $1.34 billion and net income increased from $29.5 million to $71 million.
Netflix said its original programs received 31 Emmy nominations, more than double the 14 it received in its first year of releasing original shows.
In its first year of eligibility, Orange Is The New Black received 12 nominations, more than any other comedy series, while nominations for House of Cards grew from 9 last year to 13 this year.
“The release of Orange Is The New Black Season 2 has been every bit the global media event we had hoped for; critically acclaimed and embraced by a fervent and growing fan base,” said Netflix.
“In its first month, Orange became the most watched series in every Netflix territory, with many members either watching for the first time or re-watching Season 1, in addition to the 13 new episodes of Season 2.”
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