The online streaming service, Netflix announced its earnings for the third quarter of this year. According to the data it released, the revenue is 36 percent higher than that of last year. It seems that Netflix originals like horror sensation Stranger Things and crime-focused Narcos have helped the service reach its impressive earnings.
According to Netflix, over the last year, the company has registered a revenue of $2.15 billion, approximately 36 percent more than what they earned until October 2015. The streaming service managed to best its 2.3 million estimate, proving once again that online streaming is the future of entertainment.
Credits for the astonishing growth go to the first season of Stranger Things, a horror miniseries centered around the story of four little boys and a telekinetic girl who fight a monster from beyond this reality. The originality of the script, combined with the nostalgia for ‘70s horror flicks made this series a must-see, a considerable percentage of the 3.6 million new subscribers tuning in just to watch the show.
Another money-bringing show is Narcos, more specifically the second season of the crime drama that focuses on the lives of Colombian drug lords. The show received good critics because it focuses more on the life of Pablo Escobar, the kingpin of the Medellin drug cartel. Wagner Moura, the main actor in the series, has been awarded a Golden Globe for Best Performance by an Actor in a Television Series.
Netflix managed to record a stellar growth due to the ever increasing number of subscribers. However, as more people decide to sign up for a streaming account, cable television suffers, the number of people tuning in at a designated hour to watch a certain TV show dropping each quarter.
The company did struggle with old members that did not renew their subscription, but they compensated their losses by expanding into 130 countries. The service may differ a bit, some shows being available only in the US, but it is still an upgrade from cable television, and viewers from all over the world are creating Netflix accounts, paying a few extra dollars for the opportunity of watching timeless classics as Star Trek in HD.
The advantage of an online streaming service is that you have the possibility of watching entire seasons of new shows at any hour. Moreover, original Netflix shows like Bojack Horseman or Orange Is the New Black do not come out one episode at a time, but one season at a time, offering the viewers the possibility to binge-watch their favorite shows without fearing spoilers.
Now that Netflix announced its earnings for this quarter, we are eagerly awaiting to see how cable companies have fared.
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