According to The Hollywood Reporter, Netflix reported that it added 5.2 million subscribers during the second quarter surpassing their projections of 3.2 million. This is up from 4.95 million new subscribers during the previous quarter. The streaming media giant grew to nearly 104 million total members during a quarter with the buck of its growth occurring internationally. It gained 4.14 million new subscribers overseas while the remaining 1.07 million came from the U.S.
In a letter to shareholders, they attributed the strong quarter to its “strong slate of content.” We saw the return of original staples including House of Cards, Orange Is the New Black and Master of None. ” Netflix premiered 14 original series, 13 original comedy specials, six documentaries, two documentary series, nine feature films including Okja and seven original kids shows.” Netflix is continuing to up its programming budget with plans to spend $6 billion on content this year.