With almost 100 million subscribers, Netflix assumes lead in the on-demand streaming space.
The Netflix website and logo are displayed on laptop computers.
Additionally, House of Cards season five was pushed into the second quarter, while new seasons of the show were previously released during past first quarters.
Amazon will reportedly spend $4.5 billion on original content, which, again, seems like an astronomical figure when you consider Amazon Prime Video doesn't have the same volume as Netflix when it comes to their original content. "We are super excited".
On Monday, the company reported that its Q1 2017 streaming revenues surpassed $2.5 billion. For the second quarter, Netflix forecast earnings of 15 cents per share, considerably lower than consensus expectations for 24 cents per share.
"Everybody watches TV and almost everybody has the internet, so I don't see anything that's going to stop Netflix from getting to most people in the United States and then eventually hopefully most people around the world", Hastings said, The Associated Press reported.
"We're happy with the 41.3 percent lift in NFLX since last October, but continue to believe it's not too late for large-cap growth PMs to take new positions in what remains one of the only true large-cap growth stories in Media", the firm said.
"We are a little over a billion viewing hours a week, and YouTube has a billion a day so we have a ways to go to catch up". He further stated entertainment is more about winning fans with content and it isn't a zero-sum game.
The multi-million member streaming service says that it is rapidly growing in Latin America, North America and Europe and is making strides in Asia, the Middle East and Africa.
In the wake of a series of genre-busting content and platform deals that have blurred the lines between broadcasters and subscription video-on-demand (SVOD) providers, Netflix flatly rejected the possibility of live sports programming on its platform. The service grew by 5 million subscribers during the first three months of 2017, and is to finish the year with 100 million customers in 190 countries. The firm has a market capitalization of $60.15 billion, a price-to-earnings ratio of 325.02 and a beta of 1.27.
Netflix noted rapid growth in Latin America, Europe and North America.