Netflix reports Q3 numbers: 16.9 million subscribers
Netflix has released its Q3 2010 numbers, and they show that the rent-by-mail, video streaming service is growing fast. At the end of the quarter, Netflix has 16.9 million subscribers, up 52% over the 11.1 million subscribers it had at the end of Q3 2009. The company made $553 million in revenue, up 31 % over the same quarter of the previous year. Of that, $38 million was net profit.
The money isn't as big a deal as the number of subscribers. Not only has Netflix grown massively in the last year, but it plans to grow even more in Q4 2010. It has revised its numbers, and now expects to have 19 to 19.7 million subscribers by the end of the year. That's a lot of rentals (and a ton of streaming videos).
— Will Greenwald