Netflix Q4 Results: Now 24 Million Subscribers in Total

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The results of Netflix’s Q4 are in and the company has done much better then expected. In Q4, Netflix has gained 220,000 new streaming subscribers and 600,000 subscribers in total. Netflix has also earned $876 million in revenue. In total, Netflix now has 21.67 million streaming subscribers and 24.4 million subscribers all together

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Since the price hike, the announcement of Qwikster and the loss of 800,000 members you can say that Netflix has gone through a major rough patch in 2011. However, 2012 seems like a fresh new start for the streaming and DVD rental company. The report indicates that Netflix will be pushing away from their DVD rental service and leading new and existing members towards their streaming service. Netflix also indicates that the following quarters will be unprofitable due to expansion and decreasing DVD revenue. CEO; Reed Hastings de-missed all rumours regarding rental service for video games by saying that Netflix has “no plans” to provide videos game rentals.

Investors should be happy with the overall good news from Netflix, only time will tell what is to come for the new year.

via: Slashgear
source: Shareholder

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