Netflix, a widely known OTT subscription service has declared quite positive and unexpected first quarter results. Almost three million new subscribers have been reportedly added this year as compared to the list last year that suffered a loss of $5 million. Netflix has managed to record a profit of $1 million in its very first quarter. As a result of this, company’s stock value has already gone higher by over 20 per cent.

Apart from the US market, Netflix has registered nearly million outside customers for streaming content. Expanding further, Netflix now plans to launch itself in a brand new European market, probably within next few months. As far as the US market is concerned, Netflix has already added 2.02 million new subscribers.

Recently, Netflix has terminated its content deal with Viacom. Until May, Netflix will continue streaming content from channels like Nickelodeon, BET and MTV. However, soon after, this too will get stopped. In order to get exclusive content, the company wants a deal that offers streaming of few Viacom’s shows as well.

The company’s CEO Reed Hastings and CFO David Wells wrote a letter to its shareholders, mentioning, “The launch of ‘House of Cards’ provided a halo effect on our entire service. Customer response to the show increased our confidence in our ability to pick shows Netflix members will embrace and to pick partners skilled at delivering a great series”. Netflix’s share price that was at its 52 week low of $52 in August has now reached beyond $200.