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Netflix to spend more funds on creating of exclusive content

U.S. video-streaming company Netflix reported its earning report for the third quarter of this year.

The revenue increased 30 percent year-on year to $2.98 billion, slightly above the average forecast of analysts polled by Thomson Reuters ($ 2.97 billion). Net income rose to $130 million, up from $52 million in the comparable quarter in 2016.

Over the past three months, Netflix added 5.3 million new subscribers worldwide, beating its own forecast of 4.4 million new subscribers.

Such strong financial figures allow Netflix to increase the budget for the development and creation of its own content, which, according to the company, should become the main factor for the successful development of the service. In 2018, the management intends to spend on it up to $7-8 billion.

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