Though Netflix has been stubborn in its refusal to reveal view counts for its hit original shows, the company’s second quarter report reveals a similar number that puts its success in perspective. During Q2, when it released the long-awaited fourth season of Arrested Development, Netflix pulled in 630,000 new subscribers, a healthy number that nonetheless seems to have disappointed some investors.
According to Reuters, the subscriber count came up short of the original Q2 goal by 70,000. Investors are also skeptical about Netflix’s projection of more than 690,000 new subscribers during Q3. As a result, the company’s stock has dropped. After nearing $300 a share earlier in the year, Netflix is now down around $250; despite the recent struggles, that number is well above the $92 figure Netflix claimed at the beginning of the year.
While the below-target subscriber number worries investors, they should remember that Netflix’s original content library is still just 18 months old. As Slate explains, there will be some growing pains, but the result will be a fruitful one: a strong, profitable original content model free of the uncertainty faced by sites like Hulu.
Investors also should not doubt Netflix’s ability to make the Q3 jump it predicts. Even with the relative disappointment of Arrested Development, the platform continues to crank out quality content, with recent debut Orange Is The New Black serving as Netflix’s best reviewed original series. For those keeping track at home, that’s two smash hits, two mediocre-but-watchable series, and only one stinker. If Netflix can keep up that consistency, the subscribers will come–even without much help from everyone’s favorite dysfunctional sitcom family.