LOS GATOS, CA – Netflix now has more international subscribers than it does at home in the U.S. for the first time in its history.
In a note to shareholders that included its second quarter financial results, Netflix said that it added 5.2 million subscribers in the quarter, including 1.07 million domestically and 4.14 million internationally, ahead of its internal forecasts. Netflix now counts 103.95 million subscribers worldwide, with more than 50.1% of its total subscribers now outside of the U.S.
The streaming video provider also said that its international operations will be profitable for the first time later this year, and forecast Q3’17 international net adds of 3.65 million. “We are making good progress with our international expansion as improving profitability in our earlier international markets helps fund significant investment in our newer territories”, reads the note.
Recounting its recent 91 Emmy nominations for 27 original programs, Netflix said that it will continue to invest heavily in its own slate of TV shows, movies, and comedy specials, plus will continue to offer local productions to a worldwide audience through investments in non-English language originals.
“We strive to be bold in our programming choices and financially disciplined, so we can keep being bold”, continued the note. “Every show has passionate fans and committed talent striving for excellence. Sometimes those shows don’t attract as many viewers as we had hoped, compared to our other content. As much as we dislike ending a series early, it consoles us that it frees up investment for another new show, or two. We are programming to please our members and we keep that as our guiding light. We love it when we support a new series that has big impact like Stranger Things, Cable Girls, and 13 Reasons Why.”
Netflix’s global streaming revenue topped $2.6 billion this quarter, while net income grew to $66 million from $41 million reported for the same period a year earlier.
