Netflix will offer an online streaming-only video service-but not to U.S. consumers-during the second half of 2010, the company said during its Q3 conference call. The company announce it added more than a half million subscribers during the quarter, driving profits up 48 percent over the same quarter a year ago on revenues of $423.1 million.
The company also said it will announce a new partnership in the fourth quarter with an unnamed CE firm that has an existing subscriber base. Analysts posit the likely candidates as Wii or Playstation 3; Netflix's current deal with Xbox expires in November.
The 510,000 net new subscribers is a 95 percent increase 3Q08. Netfix said it anticipates having 12 million to 12.3 million subscribers by the end of the year, up from
The 11.6 million to 12 million it previously had projected before the third quarter.
Netflix CEO Reed Hastings said the company's overseas online-streaming initiative will "start small," declining to say in which country the company plans its launch. The company says some 42 percent of its customers streamed movies or television shows in the third quarter, up from 22 percent a year earlier.
For more:
- see these Q3 results
- see this Read Write Web article
Related articles:
Netflix Xbox streaming app sees 1M downloads
Netflix and the online video economy
Netflix sees streaming video service take off