Netflix Passes 3 Million Subscribers
Netflix Passes 3 Million Subscribers
Consumer Demand Demonstrates Continued Strength of Online Movie Rental Market
LOS GATOS, Calif., March 28 /PRNewswire-FirstCall/ -- Netflix, Inc. (NASDAQ:NFLX), the world's largest online movie rental service, today announced that it has surpassed three million subscribers, as U.S. consumers continue to respond enthusiastically to the company's offering. Netflix entered 2005 with 2.6 million members.
Since introducing online subscription DVD rental in 1999, the company has generated annual subscriber growth in excess of 50 percent. The company registered its first million subscribers in February 2003 -- a milestone achieved more quickly than America Online -- and surpassed two million members in May 2004, just 10 months ago.
"Reaching the three million-member level underscores the fact that we're fundamentally redefining the movie rental experience," said Reed Hastings, Netflix CEO and co-founder. "We've tapped a large and growing market that's clearly attuned to today's consumer lifestyle, and we foresee the continued adoption of the service as we refine and expand it over time."
About Netflix
Netflix is the world's largest online movie rental service, providing more than three million subscribers access to over 40,000 DVD titles. For $17.99 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 U.S. mail from regional shipping centers located throughout the United States. Netflix can reach nearly 90 percent of its subscribers with generally one business-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.
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of the securities laws, including statements regarding future of movie rentals and our future growth. These statements are subject to risks and uncertainties that could cause actual results and events to differ, including, without limitation: impacts arising out of changes in technology, competition, and our ability to attract new subscribers and retain existing subscribers. A detailed discussion of these and other risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in our Annual Report on Form 10-K filed with the SEC on March 15, 2005. We undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Source: Netflix, Inc.
CONTACT: Ken Ross of Netflix, Inc., +1-408-317-3931, or
kross@netflix.com
Web site: http://www.netflix.com/
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