Original content is paying off for Netflix in a big, big way.
The company just recorded the biggest quarter in its 19-year history, handily beating Wall Street’s expectations while adding a record 7.05 million subscribers. That’s almost two million more new viewers than even Netflix expected, with a fair number of them overseas. The earnings results capped a banner year that saw Netflix launch its streaming service in 190 countries one year ago. Already, 47 percent of its subscribers live somewhere other than the US.
Sales, too, rose—36 percent over the same period last year, to $2.48 billion. Shareholders loved all this good news and boosted Netflix stock 8 percent to an intraday high of $143.46 on Thursday, one day after Netflix’s report dropped. The company’s now worth about $60 billion.
All of which is to say, Netflix is killing it—thanks to its enormous investments in original content. Netflix is finally getting to reap the rewards from those investments.