There has been strong market approval for second quarter results announced by the US-based streaming and production company Netflix last night.

The company announced that it has added another 3.3m subscribers globally during the three months to June, with more than two thirds of that growth coming outside the US.

The Netflix share price has doubled to more than $700 in the current year and rose another 8 percent yesterday on the subscriber growth news - despite a more than 60 percent fall in net income during the quarter due to heavy investment in programme production.

As well as becoming the front runner in nascent streaming industry - Netflix has also become a production house to be reckoned with, making highly-popular and critically well-received series, such as House of Cards, Dare Devil and Orange is the New Black.

Netflix says it doesn’t expect to break even until the end of next year - but its user growth seems to be strong enough to satisfy investors.