Netflix ends tough 2011 with strong Q4

Netflix has drawn a line under a gaffe-ridden and tricky 2011 by bouncing back with strong Q4 figures, while adding to its streaming subscriber base.

The company acquired 220,000 new streaming customers in the last three months of the year, bringing the total to 21.67 million - each of which watched an average of 30 hours of content per month.

DVD customers shrank by 2.76 million to 11.2 million, but that fall was lower than expectations since the company separated its disc and streaming packages and seemingly lost interest in the former.

The DVD business still brought the company more than half of its profits, putting Netflix $192m in the red, while streaming brought in an improved $52 billion in profits.

Annus horribilis

In 2012 Netflix plans to expand its offerings internationally, while the company's first original series will arrive next month for disc and streaming customers.

The home entertainment giant will be glad to see the back of 2011 after a series of ill-conceived ideas alienated many subscribers and brought a sharp halt to its meteoric rise as the king of rentals.

Last summer the company decided to split its DVD and streaming businesses, which involved a 60 price hike to stay subscribed to both.

Then, in a move which led many to believe it was deliberately sabotaging the disc division, it decided to rename it 'Qwikster,' although that didn't last too long.

Via: AllThingsD