After failing to reach its first quarter target, Netflix has announced that it is ready to hit the 100-million subscribers mark for the first time this weekend. With its rapid growth, the streaming service is one of the fastest growing companies in terms of profit and sales.
Netflix recently revealed that it had increased its user base by 4.95 million subscribers, whose locations are mainly overseas.
Netflix gained 7.05 million users in the previous quarter. The company stated that its numbers were affected by the adoption of internet TV.
"We have come to see these quarterly variances as mostly noise in the long-term growth trend and adoption of Internet TV," Netflix said in a statement.
Gadgets 360 reported that the company finished the quarter with 98.75 million subscribers in total. Netflix is expected to reach the 100 million subscribers this weekend.
Netflix has projected that in the next quarter it would add at least 8.15 million subscribers to its userbase. This is a bit lower than its targeted 8.42 million subscribers in the same quarter last year.
Netflix has revealed its plan to continue to invest in films and shows to attract viewers from all over the world.
"With a growing member base spread across the world, we seek to please diverse tastes with a wide breadth of content," the company stated.
Netflix recently revealed that it would spend a billion dollars on marketing to attract new users. At the moment, Netflix's main competitor is thought to be Hulu, a service owned by major companies including Disney, Comcast, and Time Warner.