Netflix on The Brink of a Major Milestone
When Netflix reported its fourth quarter results on Wednesday, it became clear that the video streaming provider can look back at a pretty successful year. Having made its service available in 130 additional countries 12 months ago, 2016 was the year when Netflix really went global. As yesterday’s results show, the company added 19 million subscribers in 2016, 14 of which outside its home market. International subscribers now account for 47 percent of Netflix’s subscriber base and will likely overtake domestic subscribers this year.
Through 2017, Netflix will continue to invest heavily in original content to attract new subscribers, a strategy that appears to be paying off. Including original and licensed content, Netflix plans to invest over $6 billion on programming this year, up 20 percent from last year’s content budget. With hit shows such as “Orange Is the New Black”, “House of Cards” and “Stranger Things”, Netflix has quickly made a name for itself as a content creator, earning 54 Emmy nominations last year.