Good News for Netflix!

Written by Nick G. - Posted on Wednesday, 25 January 2012 23:00

No doubt the owners are happy to have restored a good chunk of their clientele; Netflix hasn't had the easiest of years, but luckily they seem to be on track once again and will hopefully be able to bring in more customers in the year 2012.

"NEW YORK (CNNMoney) -- Netflix said Wednesday it began to add customers again last quarter, after a series of blunders damaged its sterling reputation with consumers and investors.

The streaming video and DVD-by-mail company said it gained a net 610,000 U.S. customers in the fourth quarter of 2011, including 220,000 streaming customers.

Netflix now has 24.4 million total customers, close to the 24.6 million it had before it angered subscribers with a 60% price hike in July, and then announced the separation of its DVD and streaming services in September. The company eventually canned the "Qwikster" plans, but not before 800,000 customers had fled Netflix.

Netflix appears to have recovered from the PR nightmare. The company said it began adding more streaming video service customers by December. Not only did last month's customer additions far outpace the company's expectations, but far fewer customers cancelled their service. Also, fewer migrated to DVD-only plans, which are more cost-intensive for the company."

Source: CNN

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