Netflix says it's competing with 'sleep' not Amazon or Hulu

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Netflix shares similarly saw a little dip but then rose to $149.25.

Though its success is notable, Netflix, even if it reaches the 100 million subscriber count, will still play catch up to HBO's 134 million subscribers globally, which includes customers paying for an on-demand iteration of HBO, inspired by the success of Netflix's business model.

In a letter to shareholders to accompany its first quarter 2017 results, Netflix dismissed quarterly variances in customer sign-ups as "mostly noise" in the long-term growth and uptake of internet TV.

On Monday, the company reported that its Q1 2017 streaming revenues surpassed $2.5 billion. They had gained 15 per cent this year through April 13.

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"The company needs to plan for a future in which its USA business is virtually saturated, and overseas growth starts slowing", said Paul Verna, eMarketer principal analyst focused on digital video.

"Think about it when you watch a show from Netflix and you get addicted to it, you stay up late at night".

Netflix reported first-quarter customer numbers slightly below expectations, but said it still sees "gigantic" potential for global growth.

Netflix stock was up more than 1% in after hours trading Monday. Net income jumped to $178 million, or 40 cents per share, up from just $27.7 million a year ago. New domestic members came in at 1.42 million, versus Wall Street forecasts 1.59 million, and Netflix guidance of 1.5 million.

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This means the streaming company is paying virtually no tax outside of the USA, where it made a taxable profit of $606 million from revenues of $1.47 billion.

The inclination has presented Netflix with more rivalry in the contest for home entertainment budgets.

New subscribers outside the United States were down by 22% year-on-year, which Netflix attributed to the effects of an "early surge demand" after its January 2016 launch in more than 130 countries. For the $1bn it plans to spend on marketing, about 600% of that will be spent on content.

"I'm not sure what (Amazon does) will really affect us", he said. Breaking that total down, the OTT video market leader picked up 1.42 million subscribers in the U.S. and the other 3.53 million customers internationally, raising its totals in those regions to 50.85 million and 47.89 million, respectively. It is also seeking to improve content offerings to match local tastes in Asia, the Middle East and Africa but expects this to take time.

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