Netflix is on observe to hit a $150 billion market cap, as its subscriber base continues to develop.
The streamer added greater than 7 million subscribers in its first quarter and is predicted so as to add about 6.2 million within the subsequent quarter. Netflix hit its $100 billion market cap in January.
Final 12 months, Netflix claimed it was planning to spend round $eight billion on authentic content material in 2018, and launch roughly 80 authentic films. It seems to be holding to that schedule, however in a letter to shareholders, Netflix additionally highlighted a few of its experiments, like February’s shock launch of The Cloverfield Paradox after the Tremendous Bowl: “By means of tight coordination amongst our authentic movie, product, advertising, and PR groups, the occasion showcased how a giant branded movie may be marketed and delivered to customers instantaneously throughout the globe with no anticipate the theatrical window.”
It additionally addressed pulling out of Cannes, saying that the choice was extra about defending its French subscribers from a rule that any film screened on the pageant can’t be on streaming for 3 years: “We are going to proceed to have a good time our movies and filmmakers at different festivals all over the world however sadly we should sit out Cannes for now in order that our rising French membership can proceed to get pleasure from our authentic movies.”
Netflix now has 119 million paid subscriptions, and that quantity will solely improve after these Comcast subscriptions began pouring in.
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