Netflix to exceed $11 billion in revenue, will spend between $7 and $8 billion on content in 2017

LOS GATOS, Calif. – Global streamer Netflix continues its growth track, reporting in its Q3 results Monday that it is on track to earn more than US$11 million in revenue this year.The company, which now boasts over 115 million worldwide customers, saw global streaming revenue in Q3 rise 33% year over year, driven by a 24% increase in average paid memberships. Operating income nearly doubled year-over-year to US$209 million. (All $ in USD.)Thanks to its spending on original content (which company executives said yesterday will top $7 billion in 2018 alone while the press release notes Netflix has deals in...