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| Movies Forum Index » Current Movies Forum » Netflix sales jump thanks to streaming... |
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| Mr. Hole the Magnificent... |
 Posted: Thu Oct 22, 2009 5:49 pm |
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Subscriber base increases to 11.1 million
By MARC GRASER
Consumers are flocking to megaplexes, but they're also staying home in
droves to watch movies, especially those provided by Netflix.
The DVD-by-mail rental service added 510,000 subscribers during the
last three months, a whopping 95% gain over the same quarter a year
ago. It now has 11.1 million subs.
The addition helped the company report a 48% boost in profits during
its third quarter, earning $30 million from $423 million in revenue,
which was up 24%.
The numbers weren't unexpected.
Rental revenue for the home entertainment biz grew nearly 9.9% in the
three month period that ended Sept. 30, according to the Digital
Entertainment Group, up from the 8.3% in the first half of the year.
Netflix has also been on a mission to increase subscriptions by
promoting its online rental service that lets users digitally view
movies through their TVs using their TiVos, Microsoft's Xbox Live and
Blu-ray players.
Given its recent performance, Netflix now anticipates having up to
12.3 million subs by the end of the year.
http://www.variety.com/article/VR1118010291.html?categoryid=13&cs=1 |
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