Netflix International Growth Marches On
Netflix Inc. (NASDAQ: NFLX) has fallen from grace. Still, things might not be as bad as the stock price might lead you to believe if you witnessed this huge from "fall from grace" over the past year and change. Just last week we noted that one analyst upgrade appeared to be a serious upgrade, based on how bearish the analyst had been on Netflix before.
This morning we have word that the Netflix's international expansion is moving on a rapid track. The movie and television program subscription services has said that it has hit the one million member mark in its U.K. and Ireland territory within seven months. That might not sound like much in America, but this is said to be the fastest growth compared to any other territory it has launched. The company even noted, "To put that in perspective, that's four times faster than it took Twitter to hit one million users globally and nearly twice as fast as it took Facebook and Foursquare globally."
We checked the CIA World Factbook to get a more clear picture of what 1 million subscribers really means. The United Kingdom has a projected population of 63 million and Ireland has another 4.7 million as its population.
Today's news is also ahead of the Netflix launch in Norway, Denmark, Sweden and Finland, which is expected to occur later on in 2012.
Netflix shares are down 1.7% at $62.59 shortly after the opening bell, against a 52-week range of $52.81 to $241.88.
JON C. OGG
Filed under: 24/7 Wall St. Wire, Internet, Media Tagged: NFLX