Netflix have hit over 50 Million customers internationally to make them one of the largest internet broadcast companies in the world. With all of these additional people enjoying their services, they have announced a $1.34 billion revenue for quarter two.
The online streaming company has prided itself in its focus on original shows like House of Cards and Orange is the New Black, so is well on its way to world domination – at least in the TV Show streaming division. The company is currently in the middle of changing into an online TV station to compete with some of Americas big Television stations like HBO.
In addition to this the company are also planning on going live in Germany, France, Austria, Switzerland, Belgium and Luxembourg in September to increase their international renown. Netflix is already extremely popular in other European countries like the UK, Ireland, Denmark, Finland, Norway, Sweden and Netherlands.
The profits from quarter two were more than the company were expecting and they are thrilled. A letter that was sent to the shareholders on Monday from the CEO Reed Hastings and CFO David Wells said: “This launch into markets with over 60 million broadband households will significantly increase our European presence and raise our current international addressable market to over 180 million broadband households, or 2x the number of current U.S. broadband households.
“Our international contribution loss of ($15.3) million has been rapidly approaching contribution profitability as we see improvements across all existing markets. Our broad success from Argentina to Finland has convinced us to further invest aggressively in global expansion.”
The American company has predicted that they will continue to grow and expect a $1.2 billion profit for third quarter.