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Don't call it a comeback.
True, it was not long ago that plenty of tech-watchers pronounced Netflix all but dead in the water. Online rentals? Not scalable. Streaming movies? Too complex for the typical viewer. Well, if you're a customer, you know that Netflix has not only become the go-to company for movie rentals, it's also broadened the way you can watch your movies. If you're a shareholder, you've now got more than a hundred reasons to love this company.
Netflix just reported a huge quarter of earnings, and customer additions. The Los Gatos, Calif. company said 1.7 million new customers came on-board over the last three months. More than a recession-beater, Netflix is changing the way we watch movies. And the way we get them. For the first time, the company says more people streamed movies than got them through the mail. That's not only changing our behavior, it's helping the firm's bottom line. Netflix still gets our subscriber fees, but if it doesn't have to pay postage fees, it makes more money.
Investors love this. Netflix (NFLX) shares are on a rocket ride lately, soaring beyond $100 a share, to a new all-time high. The company now streams movies from your DVR, your video game console, your DVD player, and various other devices, like the Roku box. It's also a click away on the new Apple iPad. In other words, they're going where you are to make rentals easy.
Easy enough for more customers, and investors, to get on board.