Date
19 January 2017
Netflix will spend US$6 billion next year on program production and purchases. Photo: Bloomberg
Netflix will spend US$6 billion next year on program production and purchases. Photo: Bloomberg

Netflix targets 100 million members by 2017

Netflix expects to increase the number of subscribers worldwide to 100 million by 2017, up from 81 million at the end of the first quarter, chief executive Reed Hastings said.

The leading provider of streaming movies and TV series added six million new members in the first quarter, but it is expecting a slower growth of just two million in the second quarter, the Hong Kong Economic Journal reports.

Analysts expected a growth of 3.5 million members in the second quarter, compared with 2.6 million the same quarter last year.

Hastings also said the company will spend US$6 billion next year on program production and purchases.

The market will continue to expand in the next 20 years despite fierce competition from other providers such as Hulu, Amazon Prime and Letv, he said.

He said the company also wants to enter mainland China, although there are no concrete plans at the moment.

[Chinese version中文版]

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