Menu

Search

  |   Technology

Menu

  |   Technology

Search

Netflix Expects To Hit 100M Subscribers This Weekend, Thinks Amazon And HBO Are Not Competitors

Netflix.Fernando Cesar Nox/Flickr

As one of the biggest movie streaming services in the business, Netflix has a lot to be proud of as a company. This coming weekend, it is about to have even more reasons to celebrate as it expects to hit the 100 million subscriber mark. Netflix is riding high right now, so much so that CEO Reed Hastings doesn’t even consider Amazon or HBO as competitors.

While Q1 for Netflix fell below expectations, causing the company’s shares to plunge, Q2 is shaping up to be a rocket. Beating analyst predictions of 2.4 million additional users for what is generally regarded as the slow quarter, the company managed to gain 3.2 million, Reuters reports.

A lot of this has to do with the fact that the latest season of the runaway hit House of Cards was pushed back, which attracted millions of new users to come rolling in during the recent quarter. As a result, Netflix is looking at a potential record-setting high with regards to its stocks today.

The video streaming service’s launch to a global audience is just starting as well, with several countries still slotted to get access to their favorite programs on the platform. If the current trend continues, Netflix could become a global powerhouse that trumps any broadcasting giant in any country.

Speaking of which, the company’s CEO was recently asked to share his thoughts on the perceived competitors of Netflix for the hundredth time. As usual, Hastings didn’t engage in any concrete manner.

The brand he was pitted against this time is Amazon, which started its own online streaming of original contend a while back. In response, Hastings said that sleep was actually the company’s biggest competitor, Recode reports.

“You know, think about it, when you watch a show from Netflix and you get addicted to it, you stay up late at night,” Hastings said. You really — we’re competing with sleep, on the margin.”

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

June 28 15:30 UTC Released

BRForeign Exchange Flows*

Actual

-5.279 bln

Forecast

Previous

-3.401 bln

June 28 14:30 UTC Released

BRBank Lending MM*

Actual

-0.2 %

Forecast

Previous

-0.2 %

June 28 19:00 UTC 197197m

ARBank Lending MM*

Actual

Forecast

1.9 %

Previous

0.8 %

June 28 21:00 UTC 317317m

KRBOK Manufacturing BSI*

Actual

Forecast

Previous

82 bln

June 28 23:50 UTC 487487m

JPForeign Bond Investment

Actual

Forecast

2.6 bln JPY

Previous

3.2 bln JPY

June 28 23:50 UTC 487487m

JPForeign Bond Investment

Actual

Forecast

Previous

1090.1 bln JPY

June 28 23:50 UTC 487487m

JPForeign Invest JP Stock

Actual

Forecast

Previous

-331.6 bln JPY

June 28 23:50 UTC 487487m

JPForeign Bond Investment

Actual

Forecast

Previous

1090.1 bln JPY

June 28 23:50 UTC 487487m

DERetail Sales YY

Actual

Forecast

2.6 %

Previous

3.2 %

June 28 23:50 UTC 487487m

JPForeign Bond Investment

Actual

Forecast

Previous

1090.1 bln JPY

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.