Netflix found huge success in TV screening services when they launched original shows like Stranger Things and 13 Reasons Why, and it appears they’re set to continue the success as they’ve vowed to spend $8 billion on new content.
While the company is sinking deeper into debt in as it tries to channel more viewers, which has left Netflix with little margin for error.
However, the huge burden that Netflix has racked up is not a big concern on Wall Street, as CEO Reed Hastings’ current strategy has been working!
Of course the streaming service borrowed billions of dollars to pay for exclusive TV shows like as House of Cards, Stranger Things, and The Crown has assisted its service by doing more than triple its worldwide audience within the past four years.
In September, it was estimated that 109 million subscribers worldwide tune in to Netflix.
According to Netflix’s quarterly earnings report released on October 16, this number includes 5.3 million subscribers which enlisted during the July-September period.
So, we can expect to get a whole lot more material to binge-watch next year!
This article originally appeared on WHO.
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