Netflix reached a new milestone of 50 million global subscribers, according to the company’s latest earnings report. The company added 570,000 U.S. subscribers in the last quarter alone, despite a price hike on streaming services this past April.
The news offers a couple key takeaways:
1. OTT (Over-The-Top) services continue to rise in popularity among consumers.
2. Customers are willing to pay for these kinds of services, whether or not they subscribe to cable.