Netflix added 5.2 million subscribers globally during Q2 2017, soaring past expectations and nearly doubling its internal forecast of 3.2 million subscriber additions.
The strong growth allowed the company to finally pass the coveted 100 million subscriber mark to reach 104 million subscribers. Netflix credits its strong growth to its popular content offering.
Netflix’s subscriber growth positions it well against other streaming competitors. Netflix’s 104 million global subscribers overshadows YouTube Red’s roughly 1.5 million paying subscribers and Amazon Prime’s roughly 80 million members. Moreover, Netflix’s $6 billion original content budget sits at the top of the pack. Amazon stated it was likely to triple its spend on originals in 2017, which JP Morgan analysts interpret to mean its budget will rise to roughly $4.5 billion. YouTube plans to spend hundreds of millions of dollars in the next year on original shows and movies.
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