Netflix subscriber numbers escalate around the world
Netflix Inc added more than 50 per cent more subscribers than expected in the third quarter. Original shows such as Stranger Things drew new international viewers and kept US customers despite a price hike, sending its shares soaring 20 per cent in Monday trade. The company’s performance represented a turnaround from the previous quarter of disappointing subscription growth. Netflix, which has spent heavily to expand outside its home market, said it is on track to start harvesting “material global profits” next year, even as it raised spending on original programming. Netflix added about 3.20 million subscribers.