New Netflix Subscriptions Hits Record High

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Talk about ending the year with a bang. Closing out 2009, Netflix added some 1.1 million new customer s to its ranks in the fourth quarter, setting a record for the 11-year old company, according to The Hollywood Reporter.

"Adding more than one million net new subscribers in the fourth quarter and nearly three million over the full year highlights the growing appeal of the Netflix service as we further expand access to and adoption of streaming movies and TV episodes over the Internet," said Reed Hastings , Netflix co-founder and chief executive officer. "In 2010, we expect to extend our operating momentum as we grow the business both rapidly and profitably."

That brings the total subscriber count to over 12.2 million, representing a 31 percent year-over-year growth rate from 9.4 million total subscribers at the end of 2008, Netflix said.

Going forward, it will be interesting to see if Netflix can build on this momentum. Earlier this month, the company dropped a bombshell on its subscribers (and potential new ones) by announcing it had signed an agreement with Warner to delay new release rentals by four weeks after they go on sale.

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