As the first of several major media companies to get in the video streaming game, Netflix has become a favorite among media companies looking to get into the business.
Now, Netflix CEO Reed Hastings says he believes the company can beat the market, as investors are betting on Netflix’s ability to expand into video streaming.
During an earnings call with analysts and investors Wednesday, Hastings said the company has been able to successfully attract more users, which he attributes to its original content.
In the quarter that ended in March, Netflix had a net loss of $17 million.
In the first half of this year, the company lost $25 million, Hastings added.
He also said Netflix had added more than 3 million subscribers in the first six months of 2017, which was “just in the U.S. alone.”
Netflix is a streaming video company, which means it can stream video to a TV or PC, rather than a phone or tablet.
Netflix also has a strong deal with Hulu.
Hastings said he believes Netflix will eventually be able to attract more content creators, including Netflix, Amazon, Hulu Plus and other services, to its streaming service.
The company has already signed deals with Disney, ESPN, CBS, Fox, and Netflix, Hastings noted.
Hesbundled some of those deals with HBO, which Hastings says is in a “very good position” to win back subscribers.
Hudson said Netflix has a good track record of creating original content, and that he expects to see more of that coming out over the next several years.
Hannibal also said the growing popularity of its original shows is helping the company.
Hemanthes also said that Netflix is seeing its earnings climb.
During the quarter ended March 31, Netflix’s revenue came in at $4.9 billion, which is a 1.9 percent increase over the same period last year.
Hence, Hastings expects Netflix’s quarterly revenue to be $5 billion.
Netflix has already been a profitable company, Hastings has said, and the company’s share price is up 9.7 percent year to date.