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Resume Surgeon > Resume Surgeon Advice > News > Netflix Doubles Its Profits

• Tuesday, July 22nd, 2014

netflix

Netflix has reported larger than expected profits this year – the company has reported profits of $71m (£42m) during the second quarter of the financial year, which is more than double than they made during the same period last year.

The online film and television streaming service has increased its revenue via its online content by 50%. The increase in revenue, to $1.2bn, is thought to be due to the growing number of consumers using the software and service.

In the last four months Netflix has reportedly gained 1.69 million new users. And with subscription fees for new members currently at $8.99 a month it’s not hard to see why the company’s profits have increased so dramatically. The service now has a reported 50 million users worldwide.

The success and popularity of the streaming service compared to its competitors like Amazon and Love Film, is thought to be due to its unique shows. Not only do Netflix stream popular shows but they commission their own including House of Cards and Orange is the New Black. Netflix invested $100 million on House of Cards – which has been a huge success. The show has been nominated for awards (Netflix programs have been nominated for 31 awards this year) and has boosted viewer numbers considerably.


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