April 1, 2004, 12:00 AM

Netflix’s customer base grows 84% in a year

Ahead of its revenue report, which is due next week, online movie rental company Netflix Inc. reported today that its subscriber base at the end of the first quarter grew 84% to 1.93 million from 1.05 million a year ago.

 

Ahead of its revenue report, which is due next week, online movie rental company Netflix Inc. reported today that its subscriber base at the end of the first quarter grew 84% to 1.93 million from 1.05 million a year ago. Subscribers were up 30% over the 1.48 million at the end of the Q4 2003.

Of the 1.93 million total subscribers, 95% were paying subscribers; 5% were new trial subscribers.

Netflix also reported that it is serving 1.7% of households nationwide, up from 0.9% a year ago and 1.3% at the end of Q4 2003. It serves 7.2% of the households in the San Francisco Bay Area, its home base and its first market, up from 4.6% a year ago.

Netflix also opened its 27th distribution center. It says it now serves 80% of its customers with next day service. For $19.95 a month, Netflix allows customers to rent unlimited movies on DVD, which it delivers via the U.S. Postal Service. Customers can have up to three movies out at a time. It stocks more than 18,000 titles.

 

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