Just seven months after debuting in the Irish and U.K. markets, Netflix has garnered 1 million paying subscribers, the company announced. With monthly subscription rates at 6.99 and £5.99, the company stands to make at least 83 million (about £66 million or $105 million) in a year from subscribers in the U.K. and Ireland (this estimate uses the 6.99 price point and assumes the subscriber base won’t decrease).That’s pretty rapid growth for the U.S. company, which has already branched into Canada and Mexico and has plans to launch in Sweden, Finland, Norway and Denmark. The company is also trying to outbid beleaguered British cable company BSkyB for movies.Netflix often competes with Hulu in the U.S. market, but Hulu has not yet launched in the U.K, despite being backed by Virgin Media, a subsidiary of Richard Branson’s Virgin group, and BSkyB, which is owned by News Corps.The British market seems primed for Internet-streaming and subscription services: Brits spend £565.21 a year on new electronic gear, according to YouGov, and 10% of the U.K. population now dedicates two hours or more a day to watching TV shows delivered through the Internet.
Netflix Gets 1M Subscribers in U.K. and Ireland, Likely to Earn 83M
Just seven months after debuting in the Irish and U.K. markets, Netflix has garnered 1 million paying subscribers, the company announced. With monthly subscription