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Netflix Reports Strong Third Quarter

1 Oct, 2003 By: Holly J. Wagner


Leading online rentailer Netflix Inc. reported ending the third quarter of 2003 with 1,291,000 total subscribers, up 74 percent year-over-year from 742,000 at the end of third-quarter 2002 and 13 percent from 1,147,000 at the end of the second quarter this year.

Of the new total, 96 percent, or 1,242,000, were paying subscribers. The other 4 percent, or 49,000, were new trial subscribers. Paying subscribers represented 95 percent of the total at the end of third-quarter 2002 and 96 percent of total subscribers at the end of the second quarter of 2003.

Household penetration in the San Francisco Bay Area rose to 5.4 percent of households at the end of the third quarter of 2003, up from 3.5 percent at the end of the third quarter of 2002 and up from 5.0 percent at the end of the second quarter of 2003. Household penetration in the rest of the country reached 1.2 percent at the end of the third quarter of 2003, up from 0.6 percent at the end of the third quarter of 2002 and up from 1 percent at the end of the second quarter this year.

Netflix has also opened another distribution center in Cleveland to serve more than 11 million residents in Ohio and parts of Pennsylvania and West Virginia.

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