Netflix Has 44 Million Subscribers
Netflix has released its earnings report for the fourth quarter, and announced that it has surpassed 44 million members. That’s up from 40 million announced on the previous quarter’s report. The company says it expects to surpass 48 million members by the end of Q1.
The company saw domestic net additions for the quarter rise 14% year over year at 2.05 million. Netflix attributes this growth to “service improvements, marketing effectiveness, and sales of Internet connected devices,” and expects the momentum to continue in Q1.
In a letter to shareholders, CEO Reed Hastings and CFO David Wells said:
The two also talked up the company’s international progress, which saw 1.74 million net additions in Q4. As anticipated, the number was slightly down from the previous year’s quarter when it had just launched in the Nordics.
The two briefly discussed DVD membership, which is at 6.9 million members, contributing a “roughly stable” profit at $110 million. The company expects this to be more like $98 million in Q1.
You can find the actual financial statements here.
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