Netflix to Hit 100 Million Subscribers This Weekend

Reed Hastings

Reed Hastings

The company said it had nearly 99 million global streaming subscribers at the end of March.

But, in light of big forthcoming movie releases like Will Smith-starring sci-fi film Bright, Netflix is laying the groundwork for better relations.

Although Netflix is far from a one trick pony, the move of House of Cards from Q1 to Q2 has impacted on operating margins, which rose to 9.7% in the first quarter. The shares rose less than 1 percent to $147.71 at 8:00 a.m.in NY before the official market open.

Investors have permitted Netflix to operate near break-even on the expectation that the company, which expects to top 100 million customers this week, will continue to grow rapidly, especially outside the U.S. Chief Executive Officer Reed Hastings has also pledged to deliver material profits starting this year.

The service added almost 5 million subscribers during the first three months of the year, and will end March with 98.7 million customers in roughly 190 countries.

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About 51 million of Netflix's subscribers are in the U.S. By the end of this year, Piper Jaffray analyst Michael Olson expects the majority of the company's subscribers to be overseas. In that time, Netflix has added 72 million more subscribers.

If you feel like everybody's talking about the latest thing they watched on Netflix, maybe they are.

In Q1, the company reported US streaming revenues of $1.5 billion and $1.05 billion coming from the global market. "For the first half of this year, for example, we expect to have 8.15 million net adds, compared to 8.42 million net adds in the first half last year". The net profit is estimated at United States dollars 66 million, with the operating margin at 4.4 percent.

Netflix's investment in original programming has inspired competing technology companies and TV networks up their spending, creating more competition for attention and eyeballs.

"We have come to see these quarterly variances as mostly noise in the long-term growth trend and adoption of internet TV", the company said in a statement (PDF). Netflix will spend more than $1 billion in marketing this year to drive customer acquisitions. "We are making good strides in improving our content offering to match local tastes in Asia, Middle East, and Africa, but have much progress to make, like in Latin America a few years ago".

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