Netflix Adds Over 2 Million Subscribers in First Quarter 2013, Announces Family Plan

Apr 23, 2013


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It wasn't long ago that pundits were predicting the fall of Netflix as other streaming options rose to prominence, but the company is now beating expectations thanks in part to its original content strategy. On April 22 the company reported its first quarter earnings, and surprised investors by reporting $1 billion in revenue and $.05 earnings per share. While the profits were less than expected, Netflix chalked it up to "extinguishment of debt"--and without that cost it would have beat the original expectations of $0.20 per share.

With the addition of over 2 million new subscribers during the quarter, Netflix credited its popular original series House of Cards-as well as expansion into international markets with the success-with the success.

And in other Netflix news, the company announced will be offering an $11.99 family plan, which allows up to four movies or shows to be streamed simultaneously from different devices. Currently, it only allows for two simultaneous streams.

(netflix.com)