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On-demand television service company Netflix failed to reach its target number of subscribers, causing investors to be alarmed.
Netflix reported high earnings, but only gained 4.95 million subscribers in the first quarter of this year. This is significantly lower compared to its subscriber growth of 7.05 million in the last quarter of the previous year.
However, the company dismissed the bad news. Netflix stated in a report that this does not worry them because they are confident in the steady growth and increasing popularity of Internet TV.
The US-based company is fast becoming a global entertainment network, with majority of its new subscribers living overseas. Because of this, Netflix is now setting its sights on reaching out to a global audience by providing diverse content.
It is now investing in films and shows that would cater to audiences with different tastes in entertainment.
Diversity in content is one of the many reasons why Internet TV is gaining popularity. It allows people to enjoy high-quality content produced both in the United States and from all over the world.
Moreover, services like Netflix give their users the advantage of convenience. Subscribers can watch all the episodes of their favorite shows whenever and wherever they want. Missing an episode or waiting for the next one is no longer a problem.
These advantages have given way to the culture of binge-watching, or watching shows and episodes one after another. As a result, Internet streaming services are growing in number and more tech companies are opening their doors to this business opportunity.