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May 1, 2005

Netflix increases subscribers, but no profit for year

movies — by TDavid @ 1:40 am PST

The online DVD rental market is growing. However, despite Netflix increasing subscribers from 1.9 million a year ago to over 3 million subscribers, the company says it will lose money for the year.

[from Motley Fool] Netflix CEO Reed Hastings talks about the DVD delivery business.

Mr. Hastings says that they are in it for the long haul. I wonder what will become of this market when Video On Demand is more widespread?

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