Netflix Passes 10 Million Subscribers

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netflix_lg_bd3002Netflix (s NFLX) continues on its recession-busting roll and announced last night that it has surpassed the 10 million subscriber mark, adding more than 600,000 net subscribers since the first of the year.

Wowzers, that’s an impressive stat. But given how people are hunting for bargains in this economic climate and how Netflix has been pounding the pavement to get its streaming service on different devices, it makes sense that Netflix should have a blockbuster (pardon the irony) quarter so far.

Earlier this month, Netflix announced that one million of its subscribers had downloaded and activated the Netflix streaming service via the Xbox 360.

I wish Netflix would have gone a little deeper with these latest stats. Of the 600,000 net subs how many are new and how many are returning? What plan are people signing up for? I recently became a part of the “substitution effect” by downgrading my subscription plan to receive fewer DVDs since so many more movies are available through through streaming.

6 Comments

Tim Street

This has to have cable MSOs and Premium Cable networks like HBO shaking in their boots.

Imagine the churn in an economy where people are looking to cut costs?

If I had Netflix and High Speed Internet I could give up cable if only I could get it to work as easy as TiVo Central. Just turn on my TV and see everything I’ve ordered. But my little voice is telling there is some content I get on cable that I can’t get with Netflix and the Internet. I’m not sure what it is but there’s something…

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