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Netflix's subscriber base grew to over 62 million in the first quarter of 2015, exceeding the streaming company's own subscriber growth targets. Netflix added 5 million subscribers globally in the quarter.
The company attributed its strong domestic growth to investments in new and original content, including a third season of "House of Cards." International growth was driven by further expansion into new markets, including Australia and New Zealand. International markets now make up more than one-third of the company's total subscriber base.
Netflix does not feel threatened by emerging streaming competitors like HBO Now. The difference in price points ($15.99 for HBO vs. $7.99 for Netflix) "underlines" Netflix value, said Netflix CEO Reed Hastings, speaking during the company's earnings call.
Here's a breakdown of Netflix subscriber growth during the first quarter:
- Domestic subscribers totaled 41.4 million during the quarter, up by 16% YoY, a slight deceleration from the prior quarter. For comparison, US pay-TV providers have averaged just 1% subscriber growth over the last few quarters.
- International subscribers top nearly 20.9 million during the quarter, increasing by 65% YoY, also a slight deceleration from the third quarter.
- Total subs reached just under 62.3 million, increasing by 29% YoY.