Netflix reports surge in New Subscribers
On Wednesday, streaming media company Netflix reported a record jump in subscribers in the first quarter of 2015. According to the company, the jump has pushed its streaming television service membership above 60 million.
According to the company’s report, the service has surpassed the 40 million mark in the United States and the 20 million mark across the world. In the report, the company stated that the unprecedented jump has pushed the number of subscriptions to its streaming television service more than 62 million overall.
After the report by Netflix, shares of the Los Gatos, California headquartered company jumped about 13% in after-hours trade. The company reported profit in the first quarter of the year, but it was dragged down by currency changes.
In a statement, the company stated, “Our original series, documentaries and comedy specials are being enthusiastically received, and member engagement is at an all-time high. Members streamed 10 billion hours in the first quarter, more evidence that consumers around the world are embracing the Internet TV revolution”.
According to the reports, Netflix, which has viewers in North America, South America, Australia, New Zealand in and some parts of Europe, has added more than record 4.9 million new members in the first three months of 2015.
As per the company, its financial results during the quarter have been hurt by strong US dollar. International streaming business of the company reported a loss of more than $60 million. According to the company’s earnings figures, the loss was less than estimations. In the current quarter, expected loss in international streaming business was $101m.
Netflix has reported an overall profit of about $24m in the first quarter of the year compared with $53m the same time a year earlier.