Netflix (NFLX) passes 3 million subscriber mark; adds 400,000 subs in Q1

| About: Netflix, Inc. (NFLX)
This article is now exclusive for PRO subscribers.

Netflix (ticker: NFLX) announced that it now has more than three million subscribers, after adding 400,000 subs during the first quarter of 2005.

In its press release, NFLX highlighted the following subscriber milestones:

  • 2/03:  1 million subscribers
  • 5/04:  2 million subscribers
  • 3/05:  3 million subscribers

The press release also references NFLX's library of 40,000 titles.  In previous press releases, the company boasted a library of 30,000 titles.

Quick comments: This announcement is in-line with the company's previous guidance for 1Q and puts it on target to reach its 2005 subscriber forecasts.  Here's what the company had forecast during its 4Q04 earnings release:

  • 1Q05: 2.85 million - 3.05 million subscribers
  • 2005: 3.85 million - 4.15 million subscribers