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Netflix Growing, Envisions Expansion Abroad

2014-07-22 09:31 by
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Netflix, the popular streaming and mail-order DVD service, continued its expansion in the second quarter. The company said its brought in $1.34 billion in revenue, and earnings more than doubled, to $71 million or $1.15 per share, from $29 million or 49 cents, a year ago. It also added more subscribers, as Netflix rides a wave of popularity with original series such as Orange is the New Black and House of Cards.

Today, nearly three-quarters of Netflix's members are in the United States. In the future, it hopes that a growing portion of its membership will come from around the world.

"Ninety-five percent of people who live on the planet live outside the United States, and generally for global Internet businesses about 80 percent of the usage is outside the U.S.," Mr. Hastings said in a telephone interview. He added, "We want to bring our services to as many nations as possible."

Netflix also disclosed plans to start selling gift cards this fall in brick-and-mortar stores in the United States, Canada, Mexico and Germany. The company has only sold gift certificates online.

Read more -here-

 

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