Netflix surpasses 50 million subscriber mark

Fifteen years since it first launched, Netflix has announced that it has reached almost 54 million subscribers across the globe as total revenue hit $1.34 billion in the second quarter of 2014.

According to the company’s latest financial report, Netflix’s US member base grew to more than 36 million, while international subscriptions outside of the US grew 78% year on year to reach just short of 14 million.

With plans to roll the service out to Germany, France, Austria, Switzerland, Belgium and Luxembourg in September – markets with more than 60 million broadband households – Netflix expects its European presence to increase significantly and raise its current international addressable market to over 180 million broadband households – double the number of those in the US.

The release of the second season of original series Orange is the New Black proved to be a big success, becoming the most watched series in every Netflix territory in its first month. Netflix currently has a number of original series in production around the globe, including Marco Polo, Marvel’s Daredevil and the third season of House of Cards.

“We have a huge global opportunity ahead and a lot of challenges too,” Netflix said. “We are thrilled for the creators of our original series and documentaries who earned 31 Emmy nominations this year, and whose incredible work is being enjoyed by many of our 50 million members.”

Netflix forecasts total streaming revenue to surpass $1,220 million in the next quarter.