Though it has ruffled some feathers in Hollywood with its low-cost streaming option and has some analysts predicting a tumble, there’s no denying Netflix is still on a roll. The streaming and DVD by-mail giant unveiled its fourth quarter numbers today, and demonstrated that at least for now, business is booming.
Overall, Netflix more than doubled its subscriber growth in 2010, reaching 20.1 million members in the fourth quarter. Q4 net income was up 51% from the previous year at $47 million.
Of particular note is the fact that a third of Netflix’s new subscribers have opted for its $7.99 streaming-only option.
The company also revealed that its continued subscriber growth will allow it to spend more on streaming content in 2011, which will make the 28-day delay windows it currently faces from the Hollywood Three “matter less”.
What will 2011 hold for this quickly growing company? Can anything slow Netflix’s ascension?
(via Home Media Magazine)