Netflix reports 2009 web sales of $1.67 billion, a 22% increase

Netflix ended the fourth quarter of 2009 with about 12.26 million total subscribers, up by 31% year over year from 9.39 million total subscribers in 2008.

For the fiscal year ended Dec. 31, 2009, Netflix reported:

• Total revenue increased by 22%, to $1.67 billion from $1.37 billion in 2008.
• Net income for fiscal 2009 was $115.9 million, a 40% increase compared with net income of $83.0 million last year.

The Netflix streaming video service is catching on with subscribers: 48% watched more than 15 minutes of a TV episode or movie in Q4 of 2009 compared with 28% for the same period of 2008 and 41% in the third quarter of 2009. Netflix is No. 18 in the Internet Retailer Top 500 Guide (a PDF version of the company’s financial and operating profile can be ordered by clicking on its name).

For the fourth quarter of 2009, Netflix reported:

• Sales of $444.5 million, a 24% increase from $359.6 million in the prior year quarter.
• Net income was $30.9 million, a 36% increase compared with $22.7 million for Q4 of 2008

For 2010, Netflix projects sales to range from $2.05 billion to $2.11 billion, net income from $125 million to $137 million and subscribers from 15.5 million to 16.3 million.