Netflix just added 3.3 million more subscribers, the company said in a live Google Hangout Wednesday morning, making cable just that much more irrelevant with the news.
CEO Reed Hastings even showed up to the earnings call in a Bojack Horseman sweater, contrasting nicely with all the other suits onscreen.
It’s like he’s letting everyone know that Netflix can’t be stopped, and he’ll wear whatever he damn well pleases, thank you very much.
Netflix’s stock price has also rocketed up for the just finished fiscal quarter, which comes on the heels of the June 23rd announcement of a seven-to-one stock split.
Sounds like Netflix is taking a cue from Apple’s playbook on this one.
The full earnings call, or interview as they’re calling it, is available on YouTube, and is embedded below.
Most analysts expected positive earnings from Netflix, and the company’s reported $1.64 billion in revenue and $26 million in net income was right in line with those expectations. Hastings reported a drop in free cash flow, but attributes it to an investment in original programming, like the one commemorated on his torso for the earnings call.
While Netflix gets a lot of ink for its streaming option, the DVD by mail business still serves 5.3 million members in the US, which brought in $77.9 million profit in Q2, according to a statement by the company.
Bottom line, Netflix is proving once again that when offered a quality product for a fair price, consumers will respond positively. Come to think of it, that’s sort of what Apple does, too, right?