Printed from http://www.electronista.com

Netflix hits one million subscribers in the UK, Ireland

updated 01:51 pm EDT, Mon August 20, 2012

Reaches million milestone after seven months

Movie streaming service Netflix has reached one million subscribers in the UK and Ireland. The landmark figure took just over seven months to reach, with customers being charged £6 ($10) per month for the streaming-only service, despite competition from the already-established postal and streaming-based rental service LoveFilm.

Although the Amazon-owned LoveFilm is seen as its biggest competitor, Netflix UK chief executive Reed Hastings called BSkyB its main rival. Sky also operates its own streaming service alongside its satellite TV business, although it started its own purely-streaming product called Now TV recently. "With Sky Movies and Sky Atlantic, they're the ones with big content. LoveFilm has some strengths but [we] are both competing against each other, against BSkyB," Hastings said. He also admitted that the company needs to strengthen its catalog by more aggressively bidding in upcoming movie rights auctions.

Results for the second quarter in July showed Netflix as returning to profitability, following its attempt at spinning off its DVD rental service. The company lost $89 million on its international operations in the quarter, less than the $103 million lost in the previous period, however still posted an overall profit of $6 million on the strength of its North American operations. [via The Telegraph]



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Asus Chromebook C300

When Chromebooks hit the market back in 2011, consumers didn't know what to do with them. The low-cost laptops, powered by Google's Ch ...

Plantronics BackBeat Pro Bluetooth headphones

Looking for a pair of headphones that can do everything a user requires is a task that can take some study. Trying to decide on in-ear ...

Lemur BlueDriver

"Oh no, the check engine light is onā€¦again! What one of the hundreds of reasons could it be this time? Probably going to cost a fort ...

Sponsor

toggle

Most Commented

 
toggle

Popular News