Sunday, October 23, 2011

Netflix Loses 800K Subscribers in Q3

Netflix ended Q3 with 23.79 million unique U.S. subscribers, down from its peak of 24.59 million at the end of Q2 2011. Profits increased for the quarter, but due its recent price hike and subsequent shift and then reversal of marketing strategy, Netflix expects subscriptions, revenue and profits to be lower in Q4 and that the company may become unprofitable in Q1 2012 as it makes its market debut in the UK and Ireland.