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Netflix adds a record 8 million subscribers | CNN tech

The company’s stock popped over 8% in after hours trading Monday following the earnings report. If those gains hold, Netflix would open Tuesday at a new all-time high and top a $100 billion market cap for the first time.

Shares of Netflix soared more than 50% in 2017, and have continued to rise in the first weeks of 2018 on optimism about its leading position in the streaming market.

Netflix hiked prices 10% last quarter, bringing the cost of the standard streaming option up to $10.99 per month. On a conference call with analysts Monday, Netflix CEO Reed Hastings said the price increase had “very little effect on signups and growth.”

The key to Netflix’s continued success is a bet on original content, producing hit shows like “Orange Is The New Black” and “The Crown.” The company has said it will spend up to $8 billion on programming this year. Netflix also said Monday it intends to spend $2 billion on marketing.

But there is some cause for concern.

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Netflix adds a record 8 million subscribers – Jan. 22, 2018.