Netflix tops 100 million subscribers

Posted on: July 18th, 2017 by ABC News No Comments

Netflix(NEW YORK) — It’s official, Netflix has crossed the 100-million-subscriber mark.

In a letter to the company’s shareholders on Monday, Netflix announced that it finished June with 104 million subscribers.

The company reported that it added 5.2 million subscribers in the three months ending June 30, more than the 3.2 million the company expected. Most of those new subscribers — 4.1 million of them — came from overseas.

In his letter to investors, CEO Reed Hastings credited much of the company’s subscriber growth to its investment in original programming, although this year the company also began cancelling original shows it deemed under performing like The Get Down and Sense 8.

“As much as we dislike ending a series early, it consoles us that it frees up investment for another new show, or two. We are programming to please our members and we keep that as our guiding light,” Hastings wrote.  “We love it when we support a new series that has big impact like Stranger Things, Cable Girls and 13 Reasons Why.”

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