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Netflix Confirms 7 Million Subs

Netflix announced recently that it has successfully added 19 million new net subscribers in the year 2016 as compared to 17.4 million in 2015, finishing the year with 93.8 million subscribers. The OTT service company’s global streaming revenue during the period was at mindboggling $8.3 billion, reflecting a 35 % growth year-on-year.

Netflix has upended its content budgets to $6 billion for 2017 – 20 % more than it had laid out for 2016. The company has estimated to add 5.12 million new net adds for Q1 2017 (3.7 million of these are expected to be from outside the US).

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