Netflix's Stream Turns Into a $2 Billion River
posted Saturday Feb 12, 2011 by Nicholas DiMeo
In a time where their primary competitor, Hulu, is suffering from financial loss, a failed launch of a new service and possible restructuring, Netflix is on the other end of the see-saw. If the company in red were to have a Gamerscore, it'd have to be over 9,000 as Netflix keeps breaking records and getting new achievements, one after another.
Reports have come in that after their fiscal year ending on December 31st, Netflix has eclipsed the $2 billion mark in total revenue, at $2.16 billion, which is 29% higher than last year's numbers. The company also raked in $160 million in net income, up $45 million from last year.
Those are pretty impressive numbers. To see how else Netflix was awesome last year, follow the break.
One of the biggest things Netflix should brag about though is their subscription numbers. Soaring past their number the year prior, they saw a 63% increase in subscriptions, to 20.01 million customers and over 2.5 million of the new subscribers opted for the streaming-only plan.
Netflix only sees this as a sign of more growth to come.
We expect that percentage to grow over time. The balance of new subscribers primarily takes our $9.99 1-DVD combination plan. Very few of our existing subscribers are downgrading to the pure streaming plan.
To further prove that they think growth is going to come at an exponential rate, Netflix is projecting Q1 2011 sales to be somewhere between $684 billion to $702 billion and they plan to attract another one million subscribers. It'll be pretty impressive if they can hit those numbers.