Netflix posts its first quarterly loss in 7 years
Netflix has lost $5 million in the first quarter of 2012, compared to a $60 million in net income over the same period in 2011, making this its first quarterly loss in seven years These losses could continue through the second quarter with Netflix forecasting anywhere between a $6m loss and an $8m gain over this period.
This loss was most likely due to it losing 750,000 subscribers following its controversial price increase. To make matters worse, Netflix now faces even bigger challenges as more companies are expected to start their own competing streaming services. Netflix’s goal is to add 7 million US streaming subscribers, but so far it is predicted to only gain 2.7 million over the first half of 2012.
Netflix’s streaming customers have grown to 26.5 million, of which 23.41 million are US based and 3.07 are international. It’s US and international subscribers increased by 1.74 million and 1.21 million in the first quarter of 2012, respectively. Its US DVD subscriptions however have dropped by over 1 million to just 10.1 million.
5 Comments on Netflix posts its first quarterly loss in 7 years
- Posts: 269
- Posted on: 24 Apr 12 13:05
I checked it out last year for a couple of days and didnt find any movies that I havnt already seen a half dozen times, or just didn't want to see. Also the TV programming was also lacking.
- Posts: 6487
- Posted on: 24 Apr 12 16:11
- Posts: 1606
- Posted on: 26 Apr 12 18:25
- zap em
- Posts: 1140
- Posted on: 27 Apr 12 04:07
for netflixs profit losses. blockbuster,
vuduu,hulu media streaming choices.
- Posts: 965
- Posted on: 29 Apr 12 04:26
Most popular headlines
- Tue 16 Apr 16:12 by DoMiN8ToR
- Software, Windows 8
The upcoming update of Windows 8 might allow users to boot to the desktop again.
- Fri 12 Apr 15:10 by DoMiN8ToR
The number of jobs in the film and music industry in the United States has increased despite the claimed negative effects of illegal downloads.
- Tue 9 Apr 14:23 by DoMiN8ToR
The PirateBay has moved to the domain thepiratebay.gl in fear that their previous domain would be ceased by Swedish authorities
- Wed 17 Apr 13:57 by DoMiN8ToR
- Solid State (ssd)
A Chinese tech site has posted a picture that reveals details on Intel's 9 series chipset.