Here's the next step in Netflix's plan for global domination

Netflix shares hit an all-time high this week and analysts are bullish on the stock after a strong earnings report last month.

As this graphic from Statista shows, Netflix has nearly doubled its subscriber base in the last two years (blue circles). This fall, the company is expanding service into four new countries — including Japan — where more than 30 million households subscribe to cable TV, according to Nomura Research. Those cable subscribers are the most likely to be converted to Netflix — they’re already used to paying for TV, and may want new programming they can’t get from their current providers.

NOW WATCH: Tech Insider videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.