Netflix has released their second quarter earnings report and it looks like things couldn’t be going any better for the premium content provider. Netflix added 1.7 million new subscribers in the last quarter, finally breaking the 50 million mark. That growth is an even more impressive accomplishment when one takes into account the company’s highly publicized price hike earlier this year. The company claimed an extra dollar per month from new subscribers but avoided a mass mutiny by delaying the price bump for existing customers.
The success of Netflix is a reflection of their status as a leader in the premium content game. In addition to its extensive library of film and television offerings, Netflix is also the undisputed king of originals right now. Emmy-winning political thriller “House of Cards” bolstered the company’s reputation for original programming, generating a deafening level of buzz with its second season premiere back in February, but second quarter growth is almost entirely down to Jenji Kohan’s sophomore prison soap, “Orange Is The New Black,” which premiered its second season in June. The show attracted tons of love from critics and fans and became appointment binge-watching fodder at the start of the summer TV doldrums.
Netflix has hit earnings targets two quarters in a row and shows no signs of slowing down. It’s likely that the streaming service will continue to be bolstered by the excitement surrounding its signature shows for some time to come. Netflix is also strengthened by the increasing popularity of web enabled TV. Once a novelty, the technology is now becoming commonplace, making Netflix more appealing to traditional TV viewers outside of the laptop set.
This solid foundation has given Netflix both the clout and license it needs to continue to experiment with format. Having already cemented binge-watching as a household term, the streaming platform has turned its eye toward upending other traditional viewing formats. Next up is a revamp of the traditional late night model at the hands of Chelsea Handler.