Netflix Announces Third Quarter 2003 Ending Subscribers of 1,291,000 Up 74% Over the Prior Year
Wednesday October 1, 4:15 pm ET
biz.yahoo.com
LOS GATOS, Calif., Oct. 1 /PRNewswire-FirstCall/ -- Netflix, Inc. (Nasdaq: NFLX - News) ended the third quarter of 2003 with approximately 1,291,000 total subscribers. Subscribers grew 74 percent year-over-year from 742,000 total subscribers at the end of the third quarter of 2002 and 13 percent sequentially from 1,147,000 total subscribers at the end of the second quarter of 2003.
Paid Subscribers
Of the 1,291,000 total subscribers at quarter end, 96 percent or 1,242,000 were paying subscribers. The other 4 percent, or 49,000 subscribers, were new trial subscribers. Paying subscribers represented 95 percent of total subscribers at the end of the third quarter of 2002 and 96 percent of total subscribers at the end of the second quarter of 2003.
Household Penetration
Household penetration in the San Francisco Bay Area rose to 5.4 percent of households at the end of the third quarter of 2003, up from 3.5 percent at the end of the third quarter of 2002 and up from 5.0 percent at the end of the second quarter of 2003. Household penetration in the rest of the country reached 1.2 percent at the end of the third quarter of 2003, up from 0.6 percent at the end of the third quarter of 2002 and up from 1.0 percent at the end of the second quarter of 2003. Market research firm The NPD Group estimates that 58 percent of all U.S. households had a standalone DVD player as of the end of August 2003.
Third Quarter Earnings Release
Netflix will release its third quarter 2003 financial results on Wednesday, October 15, 2003 after the market close. A web cast of the quarterly conference call will begin at 2:00 PM PDT and can be accessed via the web at www.netflix.com or at www.prnewswire.com.
About Netflix
Netflix is the world's largest online movie rental service, providing more than one million subscribers access to over 15,000 DVD titles. For $19.95 a month, Netflix subscribers rent as many DVDs as they want, and keep them as long as they want, with three movies out at a time. There are no due dates, no late fees and no shipping fees. DVDs are delivered for free by first-class mail from regional shipping centers located throughout the United States. Netflix can reach more than 70 percent of its subscribers with generally next-day delivery. The company provides subscribers extensive information about DVD movies, including critic reviews, member reviews, online trailers, ratings, and personalized movie recommendations. For more information, visit www.netflix.com.
Source: Netflix, Inc. |
