January 20, 2016 7:30am
Likely due in part to its recent expansion into 130 new regions, according to Netflix’s earnings report today, the company has amassed 5.59 million new subscribers since October, amounting to a total of 75 million users worldwide.
“Our quarter‐end 74.76 million members put us at over 17 million net additions for the year, showing how much the world is embracing Internet TV,” said Netflix’s CFO, David Wells, and CEO, Reed Hastings, during the company’s recently released investor’s report.
The streaming service plans to boost the amount of original content it releases by 33 percent this year, and says that in 2016, 600 hours of original programming will be released, amount to a budget of $6 billion USD. In comparison, 450 hours of original programming was released in 2015.
Netflix also says it has plans to add 1.56 million new U.S. streaming subscribers and 4.04 million subscribers internationally for the quarter, which narrowly misses the company’s goal of 1.65 million subscribers in the U.S. and 3.5 million internationally in Q4.
Netflix’s shares jumped as much as 10 percent in after-hours trading following the release of Netflix’s Q4 results.