Netflix’s numbers on all fronts—subscribers, revenues, ratings, market share, just to name a few—are rising, and if unimpeded, this phenomenal success will soon spur the video streaming giant to change the other faces of global entertainment. In the same way that its pioneering efforts in the field demolished the old rental DVD service, its new ventures might finally put struggling cable TV to rest. Give it a few more years, and the formidable partnership of traditional movie theater chains and Hollywood studios might find a feisty upstart in its corner.
First, let’s look at the numbers. As reported by The Business Insider, Netflix’s accomplishments at the end of the second quarter of 2017 surpassed all expectations. About 5.2 million new global subscribers were added to its fold, which is two million more than the most optimistic projections. This increase was higher than that of last year’s Q2. Netflix earnings were up by eight percent for a total worth of S2.785 billion, which is slightly higher than Wall Street’s projection of $2.76 billion. Netflix’s stock value is currently worth $0.15 per share.
Reporting Netflix earnings to its shareholders, the company enthuses that the numbers will “continue to rise,” ensuring the continuing success of the company. While competitors Hulu and Amazon are straining to catch up, Netflix is pushing its own envelope to conquer other spheres in the entertainment landscape. It is predicating this move on its time-long belief that quality content brings in viewers, which is supported by the phenomenal ratings captured by original series like House of Cards, Daredevil, and Orange is the New Black.
BGR.com predicts that video-streaming services, led by Netflix, will spell the demise of former champion cable TV. Video-streaming is far cheaper and gives the subscriber the option to pick his own selected channels instead of plowing through dozens that cable TV sends to his screens. But it is traditional movie making that should watch its back.
As reported by The Washington Post, Netflix is gunning for a business-model-cum-platform that will stream original movies into theater chains with a simultaneous release into its main streaming service. Beast of No Nation was its pilot project, and 16 movies were produced in 2016.
Granted that it might take more time and investments to topple the Hollywood behemoth, but one thing that Netflix has proven is its tenacity. Not many took notice when it launched at a time when Blockbuster ruled the after-movie-watching crowd. Things have changed, and thanks to its record-breaking success, this time, a lot more in the industry are watching.
The basics of business investing: What you need to know
There are rules that investors should follow in business investing. Some of these include starting early and investing what you...
Most Americans agree to decriminalize marijuana
More than 60 percent of Americans surveyed want to legalize the use of marijuana, an increase from the 40 percent...
Dow Jones earnings hit a new all-time high
Following the US midterm elections, the Dow Jones advanced 2.13 percent with more all-time highs to follow before the year...
Gold and silver dip as the greenback continues to climb
Gold and silver prices are continuing to go down in favor of a stronger U.S. dollar, so what happens now?
A light that never goes out: Longtime Marvel writer and publisher Stan Lee passes away at 95
Stan Lee, a well-known publisher and writer of Marvel Comics, died this Monday in his Los Angeles home. Lee was...
Featured4 days ago
Portfolio diversification: How to allocate eggs in several baskets
Featured4 days ago
Why women must step up their financial knowledge
Business4 days ago
How can artificial intelligence make ed-tech industry bloom?
Featured2 days ago
How Americans still have money for favorite leisure activities despite loans
Featured3 days ago
Smart money management: 7 apps to keep your finances in order
Featured3 days ago
Examining the importance of organizational health
Business3 days ago
How costume designs contribute to the success of a show
Economy3 days ago
Why pay taxes? It’s a surprising secret to living the good life