Netflix has eclipsed 10 million total subscribers
Netflix proudly issued a press release announcing the online movie rental company now has more than 10 million subscribers.
"Ten million subscribers is a symbolic but meaningful achievement for our company," said Reed Hastings, Netflix co-founder and CEO. "From a subscriber standpoint, Netflix is singularly focused on making movie enjoyment easy, and we'll strive to deliver on that promise in added and improved ways in the years to come."
The company has added 600,000 streaming subscribers to its service since the start of 2009, with that number steadily growing. Subscribers now have the ability to watch streaming content directly to their TV or on the Internet, which offers greater flexibility.
Netflix also has agreements so its streaming service is available through the Microsoft Xbox 360 game console, Roku Netflix player, and several standalone Blu-ray players, including products from LG and Samsung. More than one million Xbox 360 owners have installed the Netflix application, and both Microsoft and Netflix expect that number to increase.
Even though many people are cutting back on entertainment and luxury spending, that means they're staying at home watching movies rather than going out and seeing movies in theaters. Netflix has shown to be rather recession proof, and expects to continue to succeed despite the struggling global economy.
In the future, Netflix hopes to end its Q1 fiscal quarter with 10.1 million to 10.3 million subscribers. In an ideal situation, the company will have between 10.6 million and 11.3 million subscribers by the end of the year.
