NetFlix grows customer base 23% in first quarter
NetFlix Inc., the online DVD rental company, grew its customer base 23% in the first quarter from the fourth quarter of the prior year, the company reports. NetFlix customers now number 1.052 million, up from 857,000 three months ago. The customer base grew 74% from 603,000 in Q1 a year ago. At the end of Q1, 96% were paying subscribers, with the balance in trial subscriptions.
With its headquarters in San Francisco, the company has achieved a household penetration rate of 4.6% in the Bay area, NetFlix reports, up from 3.8% at the end of the previous quarter and 2.8% a year ago. Household penetration in the rest of the country reached 0.9%, up from 0.57% a year ago.
For $19.95 a month, customers can rent as many DVDs as they wish from NetFlix, which stocks 14,500 titles. Subscribers can have as many as three titles out at a time. There are no due dates, late fees or shipping fees.
Back...
