The streaming media giant is doing well and making efforts to making its future bright regardless of the increase in the company’s cost.
The future seems bright for Netflix, Inc.; after having an incredible year in terms of original content, positive stock and satisfied customers, the streaming media is hoping for a much better 2016. At the UBS Global Media and Communications Conference, Ted Sarandos, the streaming media corporation’s chief content officer explained that the stock of the streaming media company’s stock has shown amazing results this year and is currently standing at 160% YTD. This percentage is a result of the on-demand subscriber’s original programs Narcos and Jessica Jones.
Narcos and Jessica Jones have managed to shake up the traditional television industry with its success. Furthermore, the chief operating officer of the on-demand subscription company, at the conference talked about the company’s 31 original programs and 10 feature films which the company is likely to introduce by year 2016. He added to his speech that the company will be adding comedy specials on its network as well by next year.
Attractive news that was revealed by the COO of the company which got the audience to hold onto their seats was that the company had future plans of getting into the sports streaming. This news should not come as a surprise to the audience as sports channels including ESPN, CBS Sports etc. have gained quite the popularity in the streaming industry.
The sole reason for the popularity that the streaming media has managed to gained amongst its customers and all across the world is because of its original programming. Due to its original content, the company is the biggest players in the market and has managed to give tough competition to its rivals such as Amazon Prime and Hulu. By the end of the previous quarter, the streaming media had over 69 million subscribers. The streaming media’s two rivals have 40 million to 50 million customers and 9 million respectively.
Netflix, Inc. has been facing more costs since it has expanded to a number of countries in the current year due to which it could increase its subscription cost. According to the findings by the Huffington Post, in case the streaming media giant plans to increase their subscription cost there is a good chance that customers might cancel their memberships. Due to these high costs, there is a less chance that the company will enter the sports channel market.
As for Netflix Stock, it has dropped by 9.18% in the last seven days while in a month’s time the stock has posted gains of 14.72%. The stock of the company was trading at $118.91 in the previous trading session.