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Netflix Q4 results: 220k new streaming-only customers, beats earnings estimates


Netflix’s Q4 2011 earnings report is in, and the company indicates its streaming subscriber count is now 21.67 million. DVD subscribers were still down however, although not as much as expected with cancellations peaking in September when the services split, leaving it with a total number of 24.4 million customers. This closes out a tough 2011 that saw its subscriber count drop by 800k in Q3, and most recently resulted in the search for a new Chief Marketing Officer. The company exceeded its own targets for growth in streaming customers and domestically, the segment reported a higher-than-expected profit of $52 million.

When it comes to its competition however, Netflix cosigned a rumor indicated today by the New York Post that Amazon may spin off its Prime Instant video service into a cheaper-than-Netflix standalone offering. For now however, it believes Amazon and Hulu offer only a fraction of its content, and net subscriber viewing hours that are less than 10 percent of the 2 billion —around 30 per member — it reported during Q4. We’re still digging through the numbers and remarks by executives, check out the press release itself linked below.

…developing

Netflix Q4 results: 220k new streaming-only customers, beats earnings estimates originally appeared on Engadget on Wed, 25 Jan 2012 16:06:00 EDT. Please see our terms for use of feeds.

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via Николай Русанов, Twitter Nikolay Rusanov, Tumblr Nikolay Rusanov

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