Streaming giant has revealed huge fourth quarter earnings
The streaming giant showed figures indicating that their subscriber base had increased by more than 8 million, putting the company’s value north of $100 billion.
According to Business Insider, the stock price of Netflix has doubled in 13 months.
In an investors interview about the success of Netflix in 2017, chief content officer Ted Sarandos said: “A good story told well is a global product.”
He cited the success of Netflix originals such as Stranger Things 2 and Will Smith’s movie Bright as particularly helpful for attracting new customers, despite the poor critical reception of the latter.
As well as regularly releasing new shows, the frequent recommissioning of the original series that chime most with subscribers helps maintain a solid membership base for the company.
The report also shows that viewers are watching more hours of content, with average streaming hours per membership growing by 9% year-on-year.
Netflix recently came under fire from the comedians MoNique and Wanda Sykes, who accused the service of gender and racial bias in its significantly reduced salaries for the women’s comedy specials against those of their white, male counterparts.