Share in TV streaming service Netflix have risen by over 12% after the company announced a rise in year-on-year earnings. The company made $83 million in net income in Q4 2014, almost double what the $48 million it generated a year before. It also says that it is doing better than expected on international subscriptions.
Netflix now has 57.4 million subscribers worldwide, 18.28 million of them based outside of the US. It is planning further international expansion over the next couple of years and says that it is working ahead of schedule. It expects to see significant profits over the period. The company also announced plans to stream controversial Sony Pictures film The Interview on Saturday. The film was only made available for download online a month ago after a full cinema release was cancelled due to security concerns. The Interview tells the story of two US journalists who have been asked to assassinate Kim Jong-Un.
Netflix announced that revenue grew by 23% to $1.48 billion during Q4. Nonetheless, it has acknowledged competition from similar services including HBO’s new Go streaming service. It also said that its profits were still being hit by piracy.
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