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 18 15:00 UTC Released

USExp Soybean Inspected

Actual

818.396 M

Forecast

Previous

644.327 M

June 18 15:00 UTC Released

USExport Wheat Inspected

Actual

372.843 M

Forecast

Previous

369.969 M

January 31 00:00 UTC 199776199776m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 199776199776m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 211596211596m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 199776199776m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 211596211596m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 199776199776m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 199776199776m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 199776199776m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

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