Netflix: 75 Percent Of New Customers Signing Up For Streaming-Only Plan

In its first quarterly earnings since it announced plans to hike prices for DVD subscribers who also stream videos, Netflix tried to put the best face on its new decision. In a shareholder letter (PDF) accompanying earnings, CEO Reed Hastings and CFO David Wells report that during "the quarter, the streaming only plan continued to gain in popularity, with nearly 75% of our new subscribers signing up for it." Nevertheless, net domestic subscribers increased by only 1.8 million versus 3.8 million new subscribers last quarter. (Netflix now has a total of 24.6 million subscribers in the U.S. and about another 1 million abroad). The big impact of the price change, of course, will come next quarter, when the company expects total subscribers to stay at around 25 million, with 22 million getting streaming video in some fashion, 15 million still getting DVDs, and a overlap of about 12 million getting both.

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