Netflix passes 50 million subscribers

Posted at 5:22 PM, Jul 21, 2014
and last updated 2014-07-21 17:22:02-04

NEW YORK (CNNMoney) — Netflix has cracked the 50-million mark.

The streaming video service said Monday that it now boasts over 50 million members in 40 countries, including 36 million in the United States. That compares with 56 million U.S. households that had premium cable subscriptions of some kind as of July, according to Nielsen.

Netflix growth slowed a bit in the second quarter, with the company adding just 570,000 U.S. streaming subscribers. That compares with 630,000 in the same quarter a year ago and 2.25 million in the first quarter.

In May, Netflix raised subscription prices for new members by $1, though the company said this change had “minimal impact on membership growth.”

Netflix is continuing its push into original programming with shows like Orange Is The New Black, which launched its second season in early June, and Hemlock Grove, which premiered earlier this month. The fourth and final season of The Killing is due August 1. Netflix shows garnered 31 Emmy nominations this past year.

The company said it currently has a number of new shows in production, including Marvel’s Daredevil, a partnership with Marvel Television. There’s also Sense8, a new show from Matrix directors the Wachowski brothers, and an unnamed thriller from the creators of Damages featuring Kyle Chandler and Sissy Spacek.

Netflix’s revenue has been growing steadily in recent quarters, cracking $1 billion for the first time last year and hitting $1.3 billion in the second quarter. That was in line with analyst estimates, and the stock rose slightly in after-hours trading Monday.

Moving forward, Netflix is looking to strengthen its European presence, launching this September in Germany, France, Austria, Switzerland, Belgium, and Luxembourg.

And for those of you who prefer doing your movie-watching online and but your shopping in person, Netflix announced that it will begin selling gift cards in retail stores later this year.

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