Netflix now has an audience of 94 million worldwide

Reed Hastings: CEO and storyteller.
Reed Hastings: CEO and storyteller.
Image: Reuters/Steve Marcus
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Netflix took one step further in its quest for global TV domination.

The company said its streaming service, which just celebrated its 10th birthday, closed out 2016 with 93.8 million streaming subscribers worldwide. That was after it signed up the most subscribers in a single three-month period ever during the fourth quarter.

Netflix added more than 7 million net subscribers during the fourth quarter of 2016—the most in the company’s history. About 5.1 million signed up from outside the US. Last January, Netflix entered 130 countries, effectively bringing its global video platform to most of the world overnight. Its shares have surged so far this year on the expectation that it can continue to grow those audiences.

Over the full year, Netflix added 19 million subscribers, up from growth of 17.4 million net new customers the previous year.

In addition to the global expansion, CEO Reed Hastings wrote in his fourth-quarter shareholder letter (pdf) that improving the service, adding features like offline viewing, and boosting Netflix’s original content catalog with titles like Marvel’s Luke Cage, The Crown, and Black Mirror, which recently released its third season, helped drive the steady growth. Global originals, like Netflix’s first Brazilian series 3%, also did well with audiences, the company said.

Netflix’s subscriber base has been a top focus for investors during the company’s recent earnings reports, and its stock—which hit an all-time high on Jan. 17 in anticipation of the report—soared as much as 9% to $145.52 during after-hours trading on Wednesday.

Amazon, which expanded its Prime Video subscription service globally last year too, also saw a small bump in its share price after the closing bell, as investors made a show of confidence in global video streaming generally.

Netflix could close in on the 100 million mark this quarter. CEO Reed Hastings said the company hopes to land at 99 million subscribers during the first three months of 2017.