Netflix reported a quarterly net loss of nearly $6 million in revenue today in comparison to its previous quarter. The company’s first quarter report of 2012 showed the decline in revenue and a decrease of 1 million DVD subscriptions. Possibly the most important number the quarter showed was the 3 million new global streaming subscribers.
The company has had revenue increases of more than $50 million each quarter dating back to its 2010 second quarter. The slight decrease in revenue should not be a sign of the times for the company, especially after reaching 1.21 million new international streaming subscribers. Netflix began offering its service to the UK and Ireland in January.
Netflix CEO, Reed Hastings, noted in the company’s press release that it had substantially more subscriptions in its first 90 days with the UK and Ireland than it did with Canada or Latin America last year. The company plans to extend its European launch in its fourth quarter.
“We fully anticipate returning to global profitability in the second quarter,” Hastings posted in the report.
Netflix continues to be the strong leader among streaming video and DVD subscribers. Other strong competitors are Hulu, Amazon Prime Instant Video, and cable on-demand services.
-Dustin Bass, @dbass_cmn
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