Black Friday Is Almost Here!
The Inventory team is rounding up deals you don’t want to miss, now through Cyber Monday. Click here to browse!

Netflix: 61% of Customers Streaming Movies

Illustration for article titled Netflix: 61% of Customers Streaming Movies

Netflix's revenue missed expectations last quarter, possibly because many of us haven't laid hands upon a DVD or Blu-ray in quite some time. The number of customers streaming movies has jumped drastically from a year ago.

Advertisement

Netflix reported that 61% of its users are now streaming, compared with 51% the quarter before, and only 37% a year ago. Netflix saw a shift toward the cheaper $8.99 a month plans that allow for only one disc out at a time, but unlimited online viewing.

As a result, the average subscriber is now only paying $12.29 a month, instead of last year's $13.29. This news, in spite of strong earnings and subscriber growth, sent Netflix's stock down 9%. With more and more devices capable of streaming Netflix's substantial online library, this news ought to come as a surprise to none, even given the dubious video quality of some of the catalog. I know I personally have no idea where my current Netflix disc is, and don't really care. Sorry shareholders! [MarketWatch via Business Insider]

Share This Story

Get our newsletter

DISCUSSION

Netflix streaming selection sucks. I took my son to Universal Studios a few weeks ago and while walking around we decided that he needs to see Jurassic Park, Terminator, Jaws, and Beetlejuice.

The only one available on streaming is Beetlejuice.

Come on, Netflix. Get with it.