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April 18, 2007
Start Of The Meltdown At Netflix
We have been down on Netflix since we made the switch to Comcast on Demand and like the rival much better. Looks like were are not alone. Netflix (NFLX) reported revenue for the first quarter of $305.3M, below the Street consensus of $304.93M. That was fine however, the subscriber numbers were a mess. Net subscriber additions of 481K were down from 687K last year and 654K in the fourth quarter. That's nasty. Also nasty were that subscriber acquisition costs jumped to $47.46 per household, from $38.47 a year ago. So fewer new heads and they are paying much more per head.
Posted by Paul at April 18, 2007 06:28 PM
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