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After Quikster Missteps, Netflix Has Recovered

Photo of Anne Thompson and Maggie Lange By Anne Thompson and Maggie Lange | Thompson on Hollywood March 14, 2012 at 3:45PM

There's no question that Netflix misjudged how to handle their necessary survival transition from DVD rentals to streaming. They left their customers feeling confused and betrayed during the Quikster-Netflix debacle.
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Digital Viewing Transition: The Rise of Netflix

There's no question that Netflix misjudged how to handle their necessary survival transition from DVD rentals to streaming. They left their customers feeling confused and betrayed during the Quikster-Netflix debacle. But now, analysts report, Netflix appears to be forgiven. Not only has Netflix recovered from the loss of 800,000 monthly subscribers in the third quarter last year, which brought total subscribers to 23.8 million, but paidContent reports that Netflix streaming is doing exceptionally well. 

Here are the numbers: Netflix stock is worth an estimated $130 per share, according to CitiGroup.  For the last fiscal year, Netflix reported a net income of $231 million, which CitiGroup estimates could grow $90 million for every million customers they add from here.  There are currently back up to 25 million Netflix subscribers.  And customers are growing; in a recent study of 3,500 participants, 30% reported getting their online streaming of movies and TV from Netflix, up from 27% in December.
 

This article is related to: NetFlix, Netflix, New Media & Technology


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