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Netflix to add 4-stream plan for $11.99, added 3 million subscribers in Q1

Netflix has successful first quarter, adds 3m subscribers worldwide

| Business, Financial & Legal News | Posted: Apr 22, 2013 9:29 pm

Netflix had a fairly successful first quarter, adding a total of over three million users around the world. In the United States alone, Netflix pulled in 2.03 million new customers. These new additions bring Netflix's total subscriber count to over 30 million, higher than that of HBO for the first time ever.

 

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Netflix pulled in $32 million in profits off of $1 billion in revenue for the quarter. To help increase revenues, Netflix is planning to offer an $11.99 plan that would officially support streaming to up to four devices. The current limit is two, but it doesn't seem to be heavily enforced.

 

CEO Reed Hastings expects less than one percent of subscribers to move to the new, more expensive plan. In other news, Hastings says that fewer than 8,000 people created free trial accounts to just watch House of Cards and then quit.

NEWS SOURCE
Engadget.com

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