Netflix adds 2 million U.S. subs, returns to profit

04/23/2013 | Wall Street Journal, The · CNET · GigaOm · Verge, The · All Things D

Netflix exceeded analysts' expectations in the first quarter by adding 2.03 million U.S. subscribers and turning a small profit after reporting a loss a year ago. Netflix, which has 27.91 million paying U.S. customers, says it will increase its commitment to original content after the success of "House of Cards," a 13-episode series that debuted last quarter. Content that isn't exclusive is "not really reinforcing customers to stay with Netflix," CEO Reed Hastings said. Netflix has introduced an $11.99 monthly family plan that allows for four streams at once. Hastings also said he was not concerned about customers sharing their passwords with nonsubscribers.

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Wall Street Journal, The · CNET · GigaOm · Verge, The · All Things D

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