http://us.imdb.com/news/sb/#film3
Netflix Winning Battle Against Goliath Rivals
Despite intense competition from the likes of Blockbuster and Wal-Mart,
Netflix, the online DVD rental outfit, nearly doubled its revenue in 2004
over 2003 to $506.2 million from $272.2 million. Moreover, CEO Reed
Hastings said during a conference call, the company achieved its lowest
"churn" -- the percentage of subscribers who drop the service each month
-- in the fourth quarter, when it was experiencing its toughest
competition. As a price war between the top rivals forced Netflix to
reduce its fees substantially, analysts had warned that any increase in
overall revenue would likely be achieved at the cost of profitability.
However, Netflix reported that fourth-quarter net had risen to $4.8
million from $2.3 million during the comparable quarter a year ago. "2004
was a spectacular year for Netflix," Hastings said.
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"All I need are some tasty waves, a cool buzz, and I'm fine."
Now playing: "Demons & Wizards - Poor Man's Crusade"