Netflix: Blu-ray Subs Hit 700,000
Thursday, January 29, 2009 10:04Washington, D.C. (January 29, 2009) — Netflix said this week that it ended the fourth quarter with 700,000 Blu-ray subscribers, a sharp jump from the previous quarter.
The online DVD rental service said it had roughly 500,000 Blu-ray subscribers at the end of the third quarter. But the company increased that total despite adding a $1 monthly surcharge on Blu-ray customers.
In an investors call, Netflix CEO Reed Hastings said the high-def disc is doing better than expected thanks largely to dropping Blu-ray player prices.
“If Blu-ray player prices continue to fall as expected, driven by next-generation chip designs, then widespread adoption becomes increasingly likely and it extends the life of disc-based viewing,” Hastings said.
The company also reported that its fourth-quarter profit soared 45 percent and that it now has more than nine million subscribers overall.
“Our October forecast of slowing growth turned out to be wrong,” Netflix CFO Barry McCarthy said during the investors call.
Netflix also said that “millions” of subscribers are using its video streaming service, but the company would not disclose specific numbers. The streaming service, which enables you to download Netflix movies over Internet lines on several devices including Blu-ray players and the XBox 360, is free to subscribers.
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Source: TV Predictions
Posted by: Geoff Caplan
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