Netflix has surprised analysts on the upside with a greater than expected jump in subscriber numbers, leaping to 104m globally on the back of successful home grown shows such as Stranger Things and Black Mirror.
The online streaming leader also saw revenues adopt a concurrent upward tack on the back of its larger audience share while Netflix shares also responded in kind, posting a double digit increase after the second quarter performance was publicized.
In a letter to shareholders company bosses observed: “The largely exclusive nature of each service's content means that we are not direct substitutes for each other, but rather complements.
"The shift from linear TV to on-demand viewing is so big and there is so much leisure time, many internet TV services will be successful."
Over the quarter Netflix added 5.2m new members, predominantly drawn from international territories, propelling the company to a healthy 32% rise in revenues which reached $2.8bn over the period.
Netflix’s international subscriber base is now on a par with that of the US, vindicating Nerflix’s global growth strategy. In Europe this has seen it expand its marketing team by 400 and commission two new original series.