For the past year or so, Netflix has taken a beating, thanks in part to dumb ideas such as splitting up their DVD and streaming video prices. Those moves caused a number of customers to leave Netflix and as a result, the company"s financial results, and its stock price, were lower than previously predicted.
Now there"s evidence that Netflix might be recovering from its 2011 issues. In a Facebook post this week, Netflix CEO Reed Hastings stated,"Congrats to Ted Sarandos, and his amazing content licensing team. Netflix monthly viewing exceeded one billion hours for the first time ever in June."
Reaching a new record of viewing hours might mean that Netflix has successfully added a large number of new subscribers since the events of summer 2011. Of course, Netflix has also expanded its reach with launches in Latin America, the UK, and Ireland. We will likely hear more information about subscriber numbers later this month when Netflix reveals its second quarter 2012 financial results.
Hastings" Facebook post also mentions Netflix"s accelerated future plans to offer original content for its subscribers. That includes the planned revival of the cult TV sitcom Arrested Development, along with the political drama House of Cards, starring Kevin Spacey.
Source: Facebook