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Netflix Subscriptions Rose 84 Percent in Q1 Year-Over-Year

1 Apr, 2004 By: Holly J. Wagner


Netflix Inc. announced it ended the first quarter of 2004 with 1,932,000 subscribers, of which 95 percent(1,842,000) are paid subscribers.

Subscriptions grew 84 percent year-over-year, from 1,052,000 subscribers at the end of the first quarter of 2003 and 30 percent sequentially from 1,487,000 subscribers at the end of the fourth quarter of 2003.

The company attributed the gains to TV advertising, online marketing and low churn.

Household penetration in the company's benchmark San Francisco Bay Area was up 7.2 percent of households at the end of the first quarter of 2004, up from 4.6 percent at the end of the first quarter of 2003 and from 5.9 percent at the end of the fourth quarter of 2003. Household penetration in the rest of the country reached 1.7 percent at the end of the first quarter of 2004, up from 0.90 percent at the end of the first quarter of 2003 and from 1.3 percent at the end of the fourth quarter 2003.

The company announced earlier this week that it opened its 26th shipping center in Kansas City, Mo. Netflix will release its first-quarter 2004 financial results April 15 after the market close.

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