Netflix Now 15 Million Users Strong With Over 60 Percent Streaming Content
July 21, 2010 at 17:34 PM EDT
Business is booming for Netflix -- but not quite as booming as Wall Street expected. The company announced its Q2 2010 results today and highlighted a number of key stats. Most notably, the service is now past 15 million total subscribers (15,001,000, to be exactly) -- the first time they've crossed that threshold. A year ago, they were at about 10.6 million subscribers -- meaning they've grown 42 percent in that time. Q2 marks the third consecutive quarter that Netflix had added over a million new subscribers, CEO Reed Hastings says. That said, the growth was not as large as it was in Q1. But that hasn't hurt Netflix's bottom-line because an increasing number of these subscribers are now streaming movies and television shows rather than getting them over the mail. In fact, now 61 percent of all of Netflix's subscribers streamed at least 15 minutes of content in Q2 -- this is up from 37 percent a year ago, and 55 percent in the Q1 2010.