>> A blitz of new shows on Netflix, including Altered Carbon. About a prisoner who returns to life in a new body after spending 250 years on ice. Helped hook over seven million new customers in the latest quarter. The video streaming pioneer has been beating expectations quarter after quarter, and its stock is up about 65% this year alone.
The eyeball hooking shows come at a big price and Netflix is spending up to $8 billion on global tv shows and movies this year. But investors are betting that spending will fuel grow around the world, Netflix is already in 190 countries. Reuters correspondent, Lisa Richwine.>> It seems to be the same story with Netflix over and over again each quarter.
They add new content, they spend more, they get new subscribers. And they still have a lot of markets around the world in which they can expand. So until their market tops out in various countries around the world, there's the potential that they'll keep beating expectations.>> But Netflix is also facing growing competition.
As Amazon and Apple also pour money into premium programming and traditional media enter into its space. While Disney, for example, has said it will stop supplying new movies to Netflix from next year and start its own streaming service. Netflix has signed up more than half of all US broadband households and is building its customer base globally.
At the end of March, its customer ranks had swelled to 125 million.