Netflix's stock increased by nine per cent yesterday, after announcing it had added seven million subscribers in the last three months of 2016, a new record for the company.
This puts Netflix's total worldwide subscriber count at 93.8 million - approximately six million of those coming from the UK - with the expectation that it will break 100 million by March 2017.
In contrast, Amazon Prime Video is estimated to have in the region of 60 million subscribers.
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Netflix implemented a range of new features last year, from offline viewing to a VR app for Android phones (pictured), but many analysts believe that the primary factor for the increase in subscribers is the Netflix Original Series programming.
In October, Netflix said it would produce 1000 hours of original content in 2017, and has increased its content budget to $6bn (£4.9bn) to achieve it. In 2016, the company produced 600 hours of programming.
This rise in video streaming subscriptions is indicative of a general increase in streaming revenues. In 2016, streaming media overtook DVD sales for the first time - generating £1.3bn compared to the £894m from physical discs.
The increasing popularity of devices like the Google Chromecast and the Amazon Fire TV are helping to make streaming TV services more accessible.
Mainstream broadcasters such as the BBC appear to be following suit; BBC director-general Lord Hall said that he wants to "reinvent public broadcasting for a new generation", citing Netflix is an example of how iPlayer could improve.
One possibility is that the BBC will let viewers download entire series before they air on TV, rather than restricting viewers to the traditional linear TV schedule.
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