Netflix Hits 50 Million Users, Set to Launch In-Store Gift Cards This Fall

Today, Netflix reported its second quarterly earning and the company had some big numbers to announce.

The video streaming service has a total of 50 million members, with only 2 million of those being free trials. The company also reported $1.34 billion in revenue and earnings of $1.15 per share, which matches up with Wall Street’s expectations. 

Fifteen years after launching our subscription service, we have over fifty million members enjoying Netflix in over 40 countries. As we gain new members, we are investing to further improve our content and member experience, and to expand the global availability of our  service.

Last quarter, Netflix announced that it would be increasing the price of its streaming service by $1 a month. The price hike when into affect in May and has had a minimal impact on subscriber growth.

In addition to their earnings report, Netflix also announced that they are introducing physical gift cards which will be available in select stores across Canada, U.S., Germany, and Mexico later this year.

In mature markets, gift cards will extend our brand presence and make it easier to access Netflix. In newer markets, gift cards help build the brand and provide an easier alternative for consumers to join Netflix in markets with developing online payments. 

Earlier today, Netflix released the post-play feature for Apple TV. The new feature automatically cues the next episode for instant playback.