Netflix has 53 million customers, figures there's room to grow next to HBO

Netflix is no longer an up and comer, it’s a giant, pushing out well-regarded original content — in 4K even — and consistently expanding its reach. Today we learned that HBO will finally hop off its cable-only throne and do battle with some sort of internet-only service next year, and as Netflix reveals how it did in the last three months, maybe we’ll find out how it plans to respond. According to CEO Reed Hastings’ Q3 letter to investors, he believes “it is likely we both prosper as consumers move to Internet TV,” while his company has grown to 53 million customers worldwide, and figures it will crack 57 million by the end of the year. The only problem? Those price hikes appear to have slowed growth, with Netflix adding 980,000 customers in the US, lower than both the 1.29 million net additions in the same period a year ago — when it passed HBO in paid subscribers — and the 1.33 million the company predicted just three months ago.


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Source: Netflix Q3 earnings (PDF)

Source: Engadget - Read the full article here

Author: Daily Tech Whip

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