Netflix breaks 20 million subscribers, revenue explodes

Netflix has reported their quarterly earnings this afternoon, surpassing all analyst expectations. The company's stock has jumped 16 points (9 percent) since the report.

The company says it has surpassed 20 million subscribers, a number that even surprised CEO Reed Hastings and other top management execs.

Income for the quarter increased 52 percent year-on-year to $47 million, and revenue jumped 34 percent to $596 million.

By adding 3.1 million subscribers and breaking 20 million, Netflix is now the second largest media subscription business in the U.S., just 3 million behind massive ISP/Cable provider Comcast.

Wrote CEO Reed Hastings (via THR):

Our huge subscriber growth, fueled by the excitement of watching instantly, impressed even us.

More subscriber growth enables us to spend more on streaming content, making the Netflix service even better in 2011.

Written by: Andre Yoskowitz @ 26 Jan 2011 18:10

ThePastor

Give us a native XBMC app!!!

Unfortunately for them, all Blu-ray protections have been broken and BD rips can be found around the Internet, usually before the retail even hits shelves.

26.1.2011 20:22 #1

KillerBug

It is cheaper & better than cable, and it works from anywhere (even through 3G)...I wonder why there are only 20 million customers?

26.1.2011 22:49 #2

Vesely

Originally posted by KillerBug: It is cheaper & better than cable, and it works from anywhere (even through 3G)...I wonder why there are only 20 million customers? By 2010 statistic census in US is 114M households. 20M customers seems pretty good coverage to me.

Once Netflix will become Worldwide and not US only it will be really major thing. All complain about piracy, but legal cheap access like in US doesn't exist. Shame.

27.1.2011 05:14 #3

mpicarell

I think one of the main reasons it isn't bigger is because how Netflix lets user share their account with people...

28.1.2011 16:50 #4

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