Netflix Still Making a Killing, May Have Passed Comcast in Subscribers
Netflix Still Making a Killing, May Have Passed Comcast in Subscribers
Posted 04/25/2011 at 2:32pm
| by Ryan Whitwam
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The online video streaming behemoth (and occasional disc rental service) known as Netflix has announced quarterly earnings, and they are spectacular. Earnings were up 88% year over year, with revenue of $719 million. The big news however, this that Netflix added 3.3 million subscribers, to end at 23.6 million. That means Netflix has more subscribers than Comcast.
Of course, since Netflix is available throughout the US and Canada, it has a larger potential subscriber base. Still, this is a supplemental service and it's telling that so many consumers have decided to join up. In some ways, this isn’t surprising. Netflix is working to expand their streaming offerings by making aggressive plays like commissioning its own series "House of Cards". Even with all the investments, Netflix managed a $60 million profit in the first quarter.
If this growth continues, we may begin to see content owners pull back more as they continue to feel threatened by Netflix. Some channels, like Showtime, have already begun removing content from Netflix. But by the time they get that scared, will it be too late?
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bling581
April 26, 2011 at 10:12am
I think the issue right now is that there are those who realize the way the market is going and those who realize it but are trying to hold out and fight as long as possible. Eventually those that resist will lose. Comcrap can try and pull their content out but they will never be as popular as Netflix and the other host of streaming services that are gaining momentum. The thing is, almost 90-95% of what I watch on services like Netflix, Hulu or from the local Redbox I would never pay money for in a retail store. They're at least getting something by hosting their content for streaming or rental.
xs0u1x
April 26, 2011 at 5:12am
I just recently signed up for a netflix account and I have to say, i'm sold ont he service and will keep it. they offer a great service at a price you can't argue with. the same can't be said of comcast. which, unfortunately happens to be my isp.
after 2 weeks of using the service though I suspect my netflix has already been throttled, and I'm no where near my bandwith cap for the month. it'll timeout sometimes and just in general slow down, when I don't notice any other performance drops in some of my other web apps. anybody else experiencing this or no?
HKUSPC40
April 26, 2011 at 12:01am
Thats because Comcast is a total ripoff monopoly that should be federally regulated! You can't even get internet spererate from their lame ass tv which is mostly commercials anyways!
franciscomedinav
April 25, 2011 at 9:11pm
NETFLIX SHOULD ADD MORE MOVIES FOR STREAMING, AND IF THEY WANT TO MAKE BILLIONS IN REVENUE, GO INTERNATIONAL, AND YOU WILL SEE MORE THAN 100 MILLION SUBSCRIBER.
jedisamurai
April 25, 2011 at 8:39pm
But now...the selection is so huge that before long companies that do not offer their content risk becoming irrelevent.
Brock Kane
April 25, 2011 at 3:31pm
All and good for Netflix, great! Now, what about streaming better movies????
Their streaming selection sucks ass!
Come on Netflix, give us some back! Stream some GOOD movies! I'm about to cancel my subscription because of it!
stige
April 25, 2011 at 7:42pm
If all you want to do is find and stream the lastest and greatest movies/tv than Netflix isn't for you.
Despite all the bad SyFy channel and 80's movies Netflix far from sucks ass. For most people they have planty of interesting stuff to watch.
At some time in the future Netflix will reach a tipping point of critical mass when they will become too big a potential revenue source for content providers to ignore. At that time they will start to bring in more recent shows/movies and be better able to compete with things like Comcast's OnDemand and Hulu.
nealtse
April 25, 2011 at 4:01pm
Good movies have to be licensed, it's not just up to netflix. And when the content is owned by competing distributors, that gets even more tricky.
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