Written by: Roshan
Netflix is on the verge of becoming the most used video streaming platform by reaching 100m subscribers. The subscription video-on-demand giant added 4.95 million total streaming customers in the quarter, down from 6.74 million in the same quarter a year earlier and below its forecast of 5.20 million for Q1.
Netflix said it expects to add 3.2 million new customers in Q2 and to have a total of 8.15 million net adds in the first half of the year – down from 8.42 million in H1 2016.
Netflix also revealed it will spend more than US$1 billion in marketing its content this year as its slate of originals continues to expand, and will up its investment in programmatic advertising.