All Posts

Netflix Q1 Results: $870 million in revenue, 3 million new subscribers

Netflix shared their Q1 2012 results today, announcing $870 million in revenue, reports The Verge. The company’s popular streaming video service gained a healthy 3 million subscribers – 1.74 million domestic and 1.21 million international – bringing their total subscriber base up to 26 million users worldwide.

Meanwhile, the company’s DVD business (yeah, it’s still around) took a dive, losing 1.08 million subscribers. Netflix still has 10.09 million users taking advantage of their DVD service, 7 million of which are also subscribed to streaming.

Overall, Netflix seems pleased with these results, which they say are helping to solidify their “position as the world’s leading Internet TV network”.

Notably, Netflix used their press release to call out streaming competitor Comcast for violating net neutrality efforts. Last month, Comcast announced that Xfinity on Demand on the Xbox 360 would not count against Comcast internet users’ monthly 250GB broadband cap.

“Comcast has decided that its own Xfinity Xbox app is not subject to this 250 gigabyte cap. This is not neutral in any sense… The only difference between the Xfinity Xbox data and Netflix Xbox data is the Xfinity data is favored by Comcast exempting it from the cap. Comcast could raise the cap and make it apply equally or just eliminate the caps. Net neutrality principles mean a level playing field for all Internet applications.”

Netflix also confirmed plans to launch “an additional attractive European market” sometime in Q4 2012. The company is also forecasting a “return to global profitability” in Q2, on a “net income / (loss) range of ($6) to $8 million”.

SOURCE: THE VERGE, NETFLIX [PDF]

 

Advertisements
Standard