Netflix now has 104 million subscribers worldwide

Netflix stocks surged on Monday after the video streaming firm stated it had about 104 million subscribers.

The usa corporation said the higher-than-anticipated quantity become a sign that investment in new indicates and movies turned into paying off.

Netflix has produced shows such as thirteen motives Why, approximately teenager suicide, political drama residence of playing cards and The Crown.

Boss Reed Hastings said it was "the rewards of doing fantastic content material".

Netflix stocks rose more than 10% in after-hours buying and selling in new york after saying its 2nd-zone consequences.

The firm stated it brought approximately 5.2 million members in the course of the sector, mostly from overseas. global contributors now account for approximately half of of its subscriber general.

Netflix has cultivated those audiences with films which include Okja, a movie made by one among South Korea's pinnacle directors approximately a younger lady's quest to get better a giant companion from a multi-country wide business enterprise.

The enterprise additionally stated it predicted international members to help raise earnings for the yr - a primary for that a part of the business.

The boom helped Netflix to report a 32% rise in second quarter revenues to $2.8bn, and it expects sales to reach almost $3bn within the 0.33 sector.

earnings for the 3 months to June were $sixty five.6m, up approximately 60% as compared with the identical length ultimate 12 months.

creating new content material became critical to competing in opposition to other online competitors consisting of Amazon and YouTube, in addition to broadcast tv networks, Netflix stated.

Netflix stated producing new content material additionally meant streaming services had been increasing the size of the overall market.

"The largely special nature of every service's content material manner that we aren't direct substitutes for each other, but as a substitute enhances," it told shareholders.

"The shift from linear tv to on-call for viewing is so huge and there may be so much enjoyment time, many internet tv services can be a hit."