Netflix Gained 2.25M New Subscribers in 1Q

Monday, April 21, 2014

Netflix Gained 2.25M New Subscribers in 1Q

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Netflix's first-quarter earnings were increased as its internet video service attracted an additional 2.25 million subscribers.

The company says it continues to attarct new subscribers as it emphasises on on exclusive programming.

Netflix said it earned $53 millionduring the first three months of the year. The company's revenue rose 24 percent to $1.3 billion.

Netflix CEO Reed Hastings also said, "Our current view is to do a one or two dollar increase, depending on the country, later this quarter for new members only." Hastings then noted that existing customers will be able to stay at current monthly rates (e.g. $7.99 in the US) "for a generous time period."