Netflix Global Audience Soars as New Markets, Shows Draw Viewers
Netflix said its internet TV service grew to 65.6 million subscribers in the second quarter, thanks to popular original shows such as "Daredevil" and "Orange Is the New Black," compared to 50.1 million a year earlier.
The strongest growth was in international markets, where subscribers jumped 2.37 million to 23.3 million, the company said Wednesday on its website. That beat the 1.94 million average of five analysts' estimates compiled by Bloomberg News. Domestic subscribers grew by 900,000 to a total of 42.3 million, beating estimates of 636,000.
The results highlight the progress in Netflix's endeavor to build the first global internet TV channel, as subscriber growth overshadowed concerns about the expansion costs. The company, based in Los Gatos, Calif., reported a loss of $92 million from international streaming, less than the $101 million projected in April.
~ Bloomberg News ~