Netflix added 3 million subscribers in Q1 2013, unveils $12/month plan for large families
Netflix has reported its Q1 financial earnings, letting investors know it added 3 million subscribers to kick-off 2013. The streaming giant's total subscriber count has reached more than 36 million users worldwide in its eight-year existence.
As for financials, Netflix boasted $1.02 billion in revenue for Q1, slightly more than Wall Street expected. The numbers are solid compared to revenue of $870 million in the same quarter last year, but that's not without profit loss. For operating and net income, Netflix lost $32 million and $3 million, respectively.
The up-tick in users and revenue may be blamed on the success of Netflix's House of Cards. As of early February, it became the most-watched piece of content ever for the site. Interestingly, Netflix says only 8,000 people took advantage of its free trial to watch the Netflix-exclusive House of Cards. "The launch of House of Cards provided a halo effect on our entire service and spoke to the quality of experience members can expect from Netflix," the company said.
Furthermore, Netflix revealed to customers that it will soon offer a $11.99 (£7.85) a month plan that will allow a family to stream four videos simultaneously. This will be especially useful for households with more than two TVs streaming Netflix at any given time, the previous limit, though Netflix expects only one per cent of its customers to take advantage of it.