Netflix continues to rapidly move forward. The company’s results of the H1 financial report says its global audience grew by 7.4 mn users, including 1.96 mn in the US, to reach 125 mn subscribers. Netflix’s international audience rose to 68.3 mn subscribers.
The company earnings soared 63% to reach $290mn.
Lately, a lot of controversy has been going on around the service. For example, the famous film director Steven Spielberg recently said that Netflix movies should not be nominated for Oscars – despite the fact that the company shows some of its pictures in theaters as well. In addition, the service was recently banned from bringing films to the Cannes Film Festival.
In a release, Netfix expressed regret over the Cannes’ deadlock and said they would never have done this to its French subscribers.
The company’s chief of content Ted Sarandos, as part of the report for investors, pledged that the company is not going to change its position regarding the display of some films in theaters.
“We do not want to be part of a business in which distribution is determined by where you can watch movies,” he said.
Also during the presentation, the company confirmed that it is going to spend $ 7.5 to $ 8 bn on the original content – serials, feature films and documentaries and shows. This includes, among other things, non-English-language content.
Meanwhile, the other part of entertainment online services, music industry, reported a long-awaited breakthrough. Spotify and Apple Music said paid music streaming and musical downloads services finally overtook the figures of sales of CDs.