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Netflix Continues to Focus on Streaming - De-emphasizes Discs
Wed Apr 27, 2011 at 10:00 AM ETTags: Netflix, Streaming, Industry Trends (all tags)
The company boasts 23.6 million subscribers, with streaming content being the main attraction.
This may not come as a surprise, but Netflix is doing well. They made $60 million in the first quarter of this year, which is an 88 percent increase when compared to the first quarter of 2010. They've expanded into Canada, introduced new subscription models for the US, and are sitting at a total of 23.6 million subscribers.
CEO Reed Hastings, on a call with analysts yesterday, said that the emphasis for Netflix going forward will be streaming. He declined to talk about numbers for disc shipments, but did say that he expects them to decline.
Hastings says that the success of streaming means that discs are less important when comparing Netflix to the competition. " In order to prosper in streaming we must concentrate on having the best possible streaming service," he says. " As a result, we are beginning to treat them separately in many ways."
Source: Home Media Magazine
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