Apple pleased its shareholders today and announced its financial results for Q4. During the announcement, Netflix emphasized one thing – Internet TV is growing and is becoming more important in people’s lives. The popular video streaming service announced today that it gained nearly 10 million global streaming members in the year 2012, with over 6 million members in Q4 alone. Netflix’s global streaming members also grew to over 33 million last year, generating huge profits for the company. Domestically, Netflix added 2 million members in Q4 alone last year, bringing the total number of domestic members to 27 million.
Netflix also pointed out that the recent holiday season was significantly strong, which was fueled by the number of new Smart TVs, smartphones, and tablets bought. Additionally, retention – both voluntary and involuntary – improved in Q4 due to improvements in payment processing. Netflix also discussed domestic competition, citing that other Internet TV providers such as Amazon Prime, Redbox Instant, and Hulu, might have, to a certain degree, the same content as Netflix has. They are potential substitutes, but when it comes to the most popular content with members on Netflix, none of these services are good substitutes at all, the company said.
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