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Do You Netflix? Over 4 Million Do Now...
The movie industry's in-theater ticket sales are down almost 8.4% YTD compared to last year. That's more than a half-billion dollars. Movie execs are worried...but Netflix isn't.
According to Barry McCarthy, the CFO of Netflix, "There were 554 movies released theatrically last year and I bet most of us can't name 20. A lot of those movies you would enjoy, if you knew that they existed. If you don't know that they existed then they might as well have not been invented. Our goal is create demand for content and own the gross margins associated with owning demand."
He believes Netflix will hit 4 - 4.2 million subscribers by the end of this year, more than 5.5 million by the end of next year and 10-to-12 million by 2012. The Jointblog think Netflix make it easier to watch movies in a manner that is completely convenient to the consumer's needs.
Jointblog reader Davis at blog ThomasHawk.com informed us about today's Lehman Bros Small Cap conference featuring Barry McCarthy. Do you Netflix? If you do or are curious, this is a good read. Thanks, Davis.
posted by Unknown @ Thursday, November 17, 2005,
