Movie rental company Netflix reported great numbers in their 4th Quarter Earnings.
Netflix ended the 2008 with 9.4 million overall subscribers representing 26% year-over-year growth.
Revenue for the fourth quarter of 2008 was $359.6 million, representing 19 percent year-over-year growth from $302.4 million for the fourth quarter of 2007, and a 5 percent sequential increase from $341.3 million for the third quarter of 2008.
Revenue for fiscal 2008 was $1.365 billion, up 13 percent from $1.205 billion for fiscal 2007.
"Consumers embraced the Netflix experience in near record numbers last quarter” said Reed Hastings, Netflix co-founder and chief executive officer, “with growth in our core DVD offering and growing momentum with internet streaming.”
This is yet another company that does everything right and is going strong dispite the economic crises. I was actually pretty surprised how fast digital movie download suddenly spread in 2008. In most part this is attributed to Netflix. There are now several devices Netflix subscribers can stream movies from Netflix directly on their TVs. Devices include the XBox 360, Roku Netflix Player, TiVo, LG TVs and more.
More details on Netflix.
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