Netflix has surpassed 50 million subscribers and is focusing on international markets for further growth, the streaming service said Monday.
About three-quarters of the streaming video company’s subscribers are in the United States.
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“Ninety-five percent of people who live on the planet live outside the United States, and generally for global Internet businesses about 80 percent of the usage is outside the U.S.,” Netflix CEO Reed Hastings told The New York Times
. “We want to bring our services to as many nations as possible.”
Netflix’s revenue increased more than 25 percent in the second quarter, after the company ditched plans to split itself into two companies and instead began focusing on acquiring exclusive programming and original series.
In September, the company will launch services in European countries, including Austria, Belgium, France, Germany, Luxembourg, and Switzerland, giving it a potential international market of 180 million broadband households.
Netflix passed 50 million subscribers despite increasing its monthly subscription price by $1 in May.
China could also be a future market for the company, according to Reuters.
"It's conspicuously large, and it's conspicuously a growing and very strong economy," CFO David Wells said in a video conference with analysts.
Strong programming has benefited the company, which saw 31 Emmy nominations for its shows this year.
“Orange Is The New Black” launched its second season in June, “Hemlock Grove” premiered this month, and the company recently inked a deal with comedian Chelsea Handler for the network's first talk show
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