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Netflix continues to see success, despite a sluggish economy

Rental business Netflix saw its Q3 profit increase 48% due to a larger number of subscribers joining the service.

The company's revenue increased 24%, with the company adding 510,000 new subscribers to the service.  The company's revenue was $423.1 million, with consumers signing up for the low-cost rental service -- staying home and watching a movie continues to be more appealing than a night at the movies, which costs significantly more than Netflix rental service.

Netflix's streaming feature will be available through another in-home device that is used by many people, but the company didn't disclose exact details.  Streaming Netflix service is already available through the Microsoft Xbox 360, Roku Netflix player, select Blu-ray players, and other devices.

The service now offers subscribers access to 17,000 movies and TV episodes through online streaming, but may have rising costs that need to be dealt with to keep the cost of the service affordable.

During the second half of 2010, Netflix is expected to roll out its online streaming service to international users, though it's unknown which countries will be supported.  During Q3, 42% of Netflix subscribers viewed streaming content, which is up from 22% 12 months ago -- and that percentage is expected to increase as more consumers become interested in streaming content.



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Symptom of a slow economy
By Kahnivorous on 10/23/2009 5:35:49 PM , Rating: 3
With so many people out of work and less working taking up people's time, there's a lot more movie watching going on around the country. Plus, the people who are working are looking for alternatives to going out and spending the cash they have. So, they stay home and watch more movies because it's cheap. If I remember right, even NetFlix didn't quite see this one coming...not that they're complaining.




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