Thursday, February 12, 2009

Netflix passes 10 million subscriber mark

LOS ANGELES (Reuters) – Online DVD rental company Netflix said on Thursday it now had more than 10 million subscribers, reflecting its continued appeal with movie viewers, and its shares rose.

Netflix, which has moved aggressively in the emerging market to deliver films to TV and other devices via the Web, said it added more than 600,000 net subscribers since January 1.

The company's shares rose 3.62 percent, or $1.31, to $37.48 a share in afternoon trading.

Netflix, best known for renting DVDs by mail, is the only company offering a subscription-based streaming video service as other rivals such as, Apple and Blockbuster compete with a la carte, pay-per-view rentals.

Last week, Netflix said 1 million Microsoft Xbox 360 video game console users had activated its movie streaming service in the past three months, but it did not say how many subscribers it actually gained from that partnership.

No comments: