Netflix To Hit 100 Million Subscribers This Weekend

Posted: Apr 18 2017, 12:45pm CDT | by , in News | Technology News

 
Netflix to Hit 100 Million Subscribers This Weekend
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  • Netflix to achieve 100 million subscribers over the coming weekend

Still Netflix chief admits they have ‘YouTube Envy’ due to the site’s daily viewership success

The on-demand video streaming website Netflix is expected to generate 100 million subscribers over this weekend. Although it was predicted to hit the mark back in the first quarter of 2017 the website has finally arrived to its goal.

According to Netflix they have experienced a net increase of 4.95 million subscribers. The surge in subscribers of US-based Netflix comes after it invested heavily in overseas markets. Netflix is working towards becoming a global entertainment network.

The strong earnings by Netflix were posted on Monday. In comparison the number of new subscribers in the second quarter is lower than the first quarter which was 7.05 million, according to AFP.

But the new numbers were enough to pass the 100 million milestones. In the first quarter Netflix was reported to have 98.75 million subscribers but this weekend will finally bring glad tidings for the site. Netflix shares similarly saw a little dip but then rose to $149.25.

According to Netflix chief executive Reed Hastings, the 100 million mile-stone is a bit of an accomplishment for them and they are all super excited. Hastings also revealed although more than a billion hours of shows are watched weekly at Netflix, they have ‘YouTube Envy’.

Since the Google-owned YouTube has a viewership of a billion hours every day. However Hastings is hopeful they have ways to catch up with YouTube. He further stated entertainment is more about winning fans with content and it isn’t a zero-sum game.

Since Netflix is not dipping into the live television streaming field it does not stand to compete with other sites such as PlayStation Vue, DirecTV and YouTube TV. But they in strong competition with Amazon Prime Video.

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<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
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