Netflix Tops 1.1 Million Subscribers for DVD-by-Mail Service

Netflix ended Q2 2003 with approximately 1,147,000 total subscribers for its DVD-by-mail service. Consumers use the Web to select from a library of 15,000 titles and the DVDs are delivered in the next few days by mail. During the Q2, Netflix acquired 327,000 new trial subscribers, a 39% year-over-year increase from the 236,000 new trial subscribers acquired in the second quarter of 2002 and a sequential decrease of 22% from the 417,000 new trial subscribers acquired in the first quarter of 2003. Average monthly subscriber churn for Q2 2003 was 5.6% as compared to 6.7% in Q2 of 2002 and 5.8% in Q1 2003. The company is targeting 1.4 million subscribers by year end.
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