Netflix is on a super-fast way to get more subscribers. There are 137 million subscribers at present for this online entertainment channel. 7 million new customers have been added to the Netflix subscriber base. This is an overwhelming increase in the subscriber list for the company. With the increase in the customer base, the share prices of Netflix have also increased by 11%.
As per the media analysts, this super-fast rise in the Netflix subscriber base came from the new advertising stunts from the channel. Netflix has promoted original programs and new seasons of Orange is the New Black and Bo Jack Horseman.
Netflix is one of the first tech companies from United States to declare their last quarter results. Investors were skeptical about the channel’s future due to the recent issues regarding online entertainment and media companies. This is an extremely extraordinary performance for Netflix after a low profit second quarter. This online entertainment app is facing stiff competition from Amazon and other traditional entertainment companies. The increasing cost of maintaining its materials is also another challenge for the company. The firm has framed a strategy which states that the company will spend more money (almost 8 billion dollars) on improving the content.
The company has devoted a complete quarter to bring more original programs to the viewers. Last quarter Netflix has added approximately 676 hours of original content in United States, which is more than 135% than the content which was added last year in the same quarter.
Netflix is making more and more investments to improve its content and stay ahead in competition. The company wrote a letter to the investors stating that they have complete confidence that the huge amount of investment which they are making will provide more returns. Netflix had targeted to add 5 million new customers whereas in reality the count was 5.9 million new subscribers outside US and 1 million new subscribers within US.