I still remember my days in California. I had loads to study and many other things to do over the week so during the weekend I used to look forward to watching DVD’s. All i had to do was to walk down to Blockbuster and pick up a DVD, but then I had to take the trouble of actually walking down there and then looking around for the DVD and then the most painful part, returning it!. Then I came across Netflix which simplified my whole DVD watching process.
Netflix is an online DVD rental service and it offers a flat rate rental by mail and online streaming in the United States. They have about 100,000 titles and are headquartered in Los Gatos, California. They started operations in the year 1997 and have come a long way since then and they currently have about 10 million subscribers today and they ship about 1.9 million DVD’s each day.
Today, with recession and many companies showing plunging profits and the many layoffs. Netflix on the other hand is making money and has experienced a major growth in the fourth quarter. Their profits are up by 45%, the company feels that this rise was due to their new streaming video feature , which allows viewers to instantly watch movies over their computer.
The news of the profits caused their stock to jump 7.4% percent to $32.38.
All i can say is that in these troubled times .. Way to go Netflix!!
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