Netflix Online Subscribers Expected to Top 33 Million

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A person displays Netflix on a tablet in North Andover, Mass. Netflix Inc. reports earnings after the U.S. stock market closes on Wednesday, Jan. 22, 2014.

Image: Elise Amendola/Associated Press

By Jason Abbruzzese2014-01-22 15:07:40 UTC

The flix just keep on coming.

Analysts expect Netflix to announce that it hit 33.1 million online subscribers in the third quarter of 2013, an increase of about 2.1 million in the last three months of the year, according to a survey conducted by Bloomberg.

See also: 6 Great Alternatives to Netflix

Netflix will announce earnings after the close of trading on Wednesday and provide the company's outlook. Investors will keep a close eye on subscriber and revenue forecasts to justify the company's elevated stock price.

Netflix shares have more than tripled in the past 12 months, causing a stir that drew comments from even CEO Reed Hastings.

NFLX data by YCharts

Expectations for future growth are already lofty, with BTIG analyst Rich Greenfield saying last year that he saw "no reason why" the company could not hit 40 million subscribers by 2015.

Netflix has a large head start but is facing no shortage of challengers. Amazon Prime, which primarily offers shipping discounts (content, for now, is just a bit of value added) has started to gain momentum, tallying 20 million subscribers. Hulu now boasts 5 million subscribers and is making major investments in original content. Google Play looms and cannot not be counted out.

Original content has helped boost Netflix's profile, with three recent Emmy wins and an Oscar nomination for The Square.

Netflix was surely cheered by these plaudits, but the hope is that popular original content will help the company meet expectations that have changed drastically in just one year. In January 2013, Netflix posted an unexpected profit of $8 million.

Those days are long gone, as analysts anticipate profit of $40.5 million when the report is released later on Wednesday.

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Topics: Business, Media, netflix, online tv, Television