Many people have utilized Netflix since its start in 1997. In fact, Netflix now has 29.4 million subscribers, extending its reach worldwide. The company has come a long way since it began sending dvd’s through the mail – they are now producing worldwide hits through its original content such as Orange is the New Black as well as Stranger Things amongst others.
Although Netflix has been continually growing and innovating, many economic analysts were skeptical of the company’s share. Fortune magazine posted that the company has previously been under pressure for its shaky future. The analysts were concerned whether or not Netflix would survive internationally as well as the amount of money the company was spending on its original content (Fortune 2016).
Even though the company was being questioned, Netflix’s shares doubled what was predicted. On October 17th, the shares grew by 20%, adding nearly $10 billion to their market capitalization. Not only were the stocks soaring, but Netflix reported that the international subscriber base grew by 3.2 million. As if that was not enough evidence to stun the nation, Netflix reported that it made 12 cents per share, when the company was estimated at a meager 6 cents per share.
Although to many Netflix appears to be a convenient streaming service, it is actually a global business dependent on subscribers and investors. Many people may doubt the future, but Netflix has proven once again that it is here to compete and dominate the newly created streaming segment.
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