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Netflix Q1 results: Unprecedented growth, 10.3 million subs, improving testing for cracked discs

by Richard Lawler posted Apr 24th 2009 at 5:32PM


We're not saying it's all good news for Netflix, but even someone with our limited financial knowledge can tell that this quote from CEO Reed Hastings in its Q1 results means things are going pretty well: "We added more net subscribers than in any previous quarter in our history and grew year-over-year GAAP EPS by 76 percent." We don't have to know what GAAP EPS is (earnings reported according to generally accepted accounting principals, and in our Wikipedia-based financial opinion we're concerned this may not truly reflect the earnings of the company until we can evaluate the operating cash flow per share - but this isn't that kind of blog) to recognize the company has a hit on its hands with Watch Instantly, even while its biggest competition is struggling. After busting through 10 million subscribers in February, the company is up to 10,310,000, adding 920,000 to its ranks in Q1 alone. Other news from the earnings call: Streaming only subscriptions are still being "considered" but not planned right now, the company is rolling out a new machine to test discs for scratches and cracks, and the company's biggest threat, just like we discussed on the podcast, is the spread of rental kiosks. You can check the reports for the rest of the details but if, like us, you're more interested in finding out when more HD and surround audio are coming to the streaming service, you'll be disappointed, because they're not in there.

[Image courtesy of TooMuchNick / WireImage, via Hacking Netflix]

AT&T plans to more than double U-verse TV availability by 2010

by Darren Murph posted Dec 21st 2008 at 6:24PM


Upping the stakes, are we AT&T? Just weeks after proudly announcing that it had successfully reached its goal of netting one million U-verse TV subscribers before the end of 2008, a tidbit on the outfit's official U-verse portal clearly makes known its plans for future expansion. The operator has been rolling service out to all new areas at a frenzied pace, and now we know why: it's hoping to pass around 30 million living units by the end of 2010. To put that into perspective, U-verse TV is currently available to 14 million living units, meaning that it is aiming to over double availability in just over two years. Good on you, AT&T -- now let's make it happen (and ahead of schedule, if possible).

Netflix snatches 9 millionth subscriber, says Watch Instantly still not profitable

by Darren Murph posted Dec 18th 2008 at 7:02PM


While snagging 500,000 Blu-ray subscribers is admirable, the big picture helps to explain Netflix's dominance even more. Sometime during the third quarter of 2008, the rental giant managed to secure its nine millionth customer. Needless to say, the DVD rental portion of the business is doing just fine, but CFO Barry McCarthy confessed that its Watch Instantly digital delivery aspect was still "a tax on the P&L." Essentially, he reiterated that it was an investment in the future, noting that if it didn't start it, someone else would have. He also proclaimed that more content could easily be added to its library of online-accessible titles, but that it wouldn't come free. At present time, we suspect Watch Instantly isn't really hurting for users, which means you could very well be hurting for a new wave of content for some time to come.

AT&T hits goal of one million U-verse TV subscribers

by Darren Murph posted Dec 16th 2008 at 3:21PM


Just a day after announcing that U-verse TV was lit in select areas of Raleigh and Orlando, AT&T has reached its long-time goal of securing one million U-verse TV subscribers before the end of 2008. And yeah, the outfit's chief executive of telecom operations totally called this last week, but we're willing to bet he had access to some pretty confidential (and telling) figures. At any rate, the milestone has been hit less than 2.5 years after the service first launched, reaching some 79 major markets in 16 states. Kudos AT&T -- now how's about you get those expansion efforts moving forward at a frantic pace? You know you want two million by July.

AT&T operations chief says it'll hit one million U-verse TV subs next week

by Darren Murph posted Dec 10th 2008 at 5:39PM


It had its doubters, and this economy didn't help matters, but AT&T will reportedly convince its one millionth convert that fiber is the best way next week. According to the outfit's president and chief executive of telecom operations John Stankey, it will hit its goal of having one million U-verse TV customers by the end of the year. He was quoted as saying that "operationally, [the firm] has hit its stride," noting that it was slated to make the fiber-based programming service available to some 17 million American homes before 2009. Kudos on (almost) reaching a milestone, AT&T -- now, when's the next big wave of expansion?

MultiChoice sees 26% increase in South African subscribers, eyes more HD for next year

by Darren Murph posted Dec 5th 2008 at 4:59AM


Things may not be all peaches and cream for every programming provider out there, but we'd say the cards are playing out just fine for Africa's MultiChoice. The carrier has just recently reported a 26% increase in subscribers over the past year, bringing its total installed base to 830,000 in South Africa. Of course, bigwigs are already looking for ways to get that figure up even higher, and expanding high-def is obviously on the brain. Eben Greyling, CEO of MultiChoice Africa has noted that more HD should be seen around September of next year once the outfit has "migrated to a new satellite which supports the HD format," and it'll also be bringing video-on-demand with it in 2009. Atta way to show 'em how it's done, MultiChoice.

TiVo enjoys a profitable third quarter -- with Echostar's money

by Richard Lawler posted Nov 25th 2008 at 6:39PM

Set your TiVo deathwatch monitoring devices to "hold", the the third quarter our friends from Alviso did manage to post a profit of $100.6 million, after figuring in a $105 million payment from Echostar. Patent related profits aside, a net loss of 163,000 subscribers is less heartening, as well as the acknowledgment that many mass distribution deals are still "in early phases of deployment." As it is, while ordering pizzas and queueing shows on the go is nice, we're still waiting for real profits and deployments before the 'watch gets lifted.

Verizon adds 233,000 net new FiOS TV customers in Q3, up to 1.6 million total

by Darren Murph posted Nov 1st 2008 at 11:55PM


Man, this is just downright eerie. If you'll recall, AT&T managed to add 232,000 net U-verse subscribers in Q3. Lo and behold, its biggest fiber rival (that'd be Verizon) added 233,000 net new FiOS TV customers in the same quarter. Coincidences aside, Verizon's pretty proud of its current position in the market, now claiming 1.6 million FiOS TV subscribers and offering the service for sale to 8.2 million premises in the United States. Just for comparisons sake, the outfit only had 700,000 subs at the end of Q3 2007, and it added just 176,000 newcomers in Q2 2008. In related news, it also managed to acquire 225,000 net new FiOS internet customers, and with cable companies jacking up rates left and right, we wouldn't be shocked at all to see even more frustrated pay-TV users make the leap to fiber in Q4.

India's Big TV grabs 500,000 subscribers in two months

by Darren Murph posted Oct 21st 2008 at 2:00PM

It took AT&T years to hit the magical half million mark here in the USA with U-verse TV; for India's Big TV, it has taken two short months. Oh sure, that comparison involves a hint of apple with a slice of orange, but still, it's an impressive feat no matter how you spin it. The DTH satellite arm of Reliance Communications has managed to secure 500,000 customers since launching in August, and with that kind of cash inflow, we have a pretty good feeling about it being able to maintain expansion plans. If all goes well, the lineup will blossom from 200 to 400 next year, it will offer DVR services by the year's end and it will launch 15 to 20 high-def channels by "mid-2009." Kudos, Big TV -- now, what's it going to take to get those HD options out a few months ahead of schedule?

Australia's Foxtel nets 40,000 new subscribers since HD+ launch

by Darren Murph posted Aug 13th 2008 at 9:37PM


Only a few months have passed since Australia's Foxtel launched its HD+ service, and judging by the numbers, Aussies are warming to high-def. The carrier just posted a 17% rise in revenue (up to $1.7 billion), and it's expecting the numbers to remain high as more consumers cave to the temptation of high-definition programming. Furthermore, 40,000 new users have signed on since the HD+ launch, and the average revenue per user has skyrocketed to nearly $85 per month "as a result of a higher take-up of additional services such as Foxtel iQ." There's no specific mention of additional HD channels, but given that bigwigs surely realize how critical they are to revenue growth, we can't imagine them not giving you folks a few more here shortly.

DISH Network loses 25,000 net subscribers in Q2, sees revenue increase

by Darren Murph posted Aug 4th 2008 at 11:07PM

DISH Network's Q1 wasn't anything to be proud of, and unfortunately for the satcaster, it seems that Q2 isn't much better. After suffering a 90% drop in subscriber growth during the first of the year, DISH's Q2 earnings report highlights an approximate loss of 25,000 net subscribers during the quarter ended June 30, 2008. Granted, it still has just south of 14 million customers hanging tight, so don't go crying over its misfortunes or anything. Furthermore, it still managed to increase total revenue by 5.6% (from $2.76 billion to $2.91 billion) year-over-year. The real question is what will happen in the second half of the year now that both it and DirecTV are clearly aiming to one-up each other at every possible turn. Ah, satellite drama.

DISH Network suffers 90% drop in subscriber growth during Q1

by Darren Murph posted May 13th 2008 at 12:06AM

Adding 22 new HD channels to its national HD lineup may boost the subscriber rate in Q2, but Q1 is apt to leave a lasting sting. While DirecTV managed to secure 275,000 net subscriber additions during its Q1, DISH Network mustered a paltry 35,000 -- down 90-percent from the 310,000 additions a year ago. Notably, the outfit still managed to report a higher quarterly profit thanks to "lower expenses following the spin-off of set-top box business EchoStar," but that little tidbit is mostly being overshadowed. Craig Moffett, analyst at Sanford Bernstein, even went so far as to suggest that the subscribers gained by other carriers during the quarter "clearly" came from DISH, and the company itself admitted that "gross net additions would likely continue to be negatively impacted by competitive factors" such as the expansion of FiOS TV. It's hard out there for a satcaster, wouldn't you say?

[Image courtesy of HowToSatTV]

DirecTV enjoys fruitful Q1, demand for HD / DVRs to thank

by Darren Murph posted May 7th 2008 at 1:59PM

Nah, Comcast wasn't shedding any tears after announcing its Q1 2008 earnings, but DirecTV must be grinning from ear-to-ear. Aside from seeing its earnings rise 10-percent and revenues climb 17-percent, the satcaster also managed to grab 275,000 net subscriber additions. Analysts were quite pleased with the exceptionally low churn rate, as many of its subscribers seem to be staying put. And with close to a hundred HD channels on tap, who can blame them? It was also noted that average revenue per subscriber crept up from $73.40 to $79.70, and an increasing demand for high-definition programming and DVRs were largely to thank. Is making the switch from cable to satellite worth it? Seems that quite a few folks said yes with their wallets this past quarter.

[Via BloggingStocks]

Comcast thrives on broadband, digital phone subscriptions in Q1

by Darren Murph posted May 5th 2008 at 11:33AM

Comcast's Q1 earnings report was fairly devoid of surprises, with a net income of $732 million compared with $837 million in the same quarter last year. It should be noted, however, that Q1 2007 included a $300 million one-time gain "from the dissolution of a cable partnership with Time Warner Cable in which Comcast received cable systems in Houston." The only interesting tidbits were the sectors in which the carrier lost and gained subscribers: 57,000 basic cable customers jumped ship, while 492,000 new high-speed internet and 639,000 digital voice customers signed on. It was also noted that 494,000 individuals picked up its digital cable service (compared with last year's 658,000), but it failed to say how many were paying out for HD. If we had to guess, we'd say satellite / fiber are beginning to eat away at the coax-laden mothership.

[Via CNN Money]

AT&T has secured 379,000 U-verse TV subscribers

by Darren Murph posted Apr 30th 2008 at 8:04PM


While Verizon was busy acquiring over a quarter-million new FiOS TV customers during Q1 2008, AT&T wasn't resting on its laurels. The company managed to pick up 148,000 new U-verse TV customers in the same period, pushing the 231,000 it ended 2007 with up to a new total of 379,000. Potentially more interesting is the firm's intentions to still hit the long-standing goal of netting a million subscribers before 2009 dawns, and as if that wasn't bold enough, it's looking to pass approximately 30 million living units by the end of 2010 (it's at 9 million now). Of course, we aren't discounting the company's ability to do so -- after all, it is rolling out service to a plethora of new locales at a pretty brisk rate -- but with the inability to record two HD channels at once, we can't see it really catching on until a few more limitations are lifted.




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