Netflix (Nasdaq: NFLX) stock increased sales by 25.3% in the second quarter this year compared to 2013’s numbers in the same period, reported The New York Times. Since last year, Netflix has had massive success with its series House of Cards and Orange is the New Black.
To keep the upward trend stable, Netflix now plans to capitalize even more on its international market. The streaming service’s ambitious new goal is add 2.36 million new subscribers next quarter from outside the United States One of Netflix’s challenges will be meeting international regulations, such as in France — where the company is obligated to pour some its wealth back into French projects, said Netflix chief executive Reed Hastings.
We joke about it being House of Cards, House of Versailles?
The success of its original series House of Cards and Orange is the New Black have established a brand for the streaming service, putting it in a good position to bring Netflix to an even larger chunk of the world than the 40 countries that it already streams in. While the company does not release official ratings on the its original series, it has deemed both House of Cards and Orange is the New Black “successes” and renewed each show for a third season, despite rumors to the contrary earlier this week.
Orange is the New Black‘s cult status runs much deeper than just through U.S. culture – its second season the most watched programming across every single Netflix region. Many even returned to watch the comedy series’ first season, said Hastings.
It was every bit the global media event we had hoped for… Reflecting the increasingly global nature of the Netflix service, we now have original series in production around the world, involving some of the best storytellers working in television and film today.
Overall, Netflix had total revenue of more than $1.34 billion in the second quarter, with $71 million in net income. In the third quarter Netflix international is anticipating to yield $347 million, with total revenue of $1.2 billion, reported Forbes.
While Netflix may be so ubiquitous now that it’s hard to imagine life without it, it has been a slow climb back to the top after plans to separate its mailing and streaming services caused a nearly $300 per share plunge to $53 per share in 2011. Netflix is currently sitting at around $453 per share after a slight gain following the release of the positive quarterly report.