There was a time when the “Big 3” television networks were all the rage. That time is long gone.
Netflix, the Internet streaming service with an array of movies, TV shows and original content, added 5 million new subscribers in the second quarter, according to the Washington Post. The programming giant was modest in its projections for growth this year, expecting to add a mere 600,000 subscribers in the United States and another 2.6 million worldwide, the Post reported.
Of course, this news led to an increase in the already wealthy stock price. Life is good at Netflix, which offers three monthly subscription options, including Ultra HD programs, for under $12.
The company credited original shows for increasing subscriber base. New seasons of “Orange is the New Black,” “House of Cards,” “The Ranch” and more debuted this year. New shows such as “GLOW” also debuted to critical acclaim.
Netflix’s shows garnered 91 Emmy nominations. The figure, the Post reported, is second only to cable powerhouse HBO. Streaming competitors Hulu and Amazon totaled 34 nominations.
The latter companies are trying to become bigger players in the arena owned by Netflix. Amazon offers most of its content along with a Prime subscription for $99 a year. Hulu also offers similar access to on-demand programming with a monthly subscription.
Netflix is reportedly looking into investing $6 billion in new content for the future. This comes as the company cancelled some recent original shows, including “The Get Down,” “Girl Boss,” and “Sense8.” Though Netflix rarely axes shows, “The Get Down” was among the costliest to produce, coming in at $120 million, which was still too rich for Netflix after two parts of the series, Variety reported.
There is little doubt the future is bright for Netflix, which had its beginnings in the DVD-by-mail industry that is still alive today to some degree. Revenues and stock prices continue to grow, which will pay dividends for content producers, advertisers and more.
Netflix continues to be among the leader in today’s cord-cutting fancy. PlayStation Vue, Sling TV and others are offering cheaper alternatives to cable. Netflix, with its binge programming model, remains affordable for consumers to maintain service while additionally giving access to cord-cutting options without hurting their wallets.