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TheStreet Open House

UK And Ireland Embrace Netflix

Stocks in this article: NFLX

LONDON, Aug. 20, 2012 /PRNewswire/ -- Netflix, Inc., the world's leading Internet subscription service for enjoying TV series and films, has hit the one million member milestone in the UK and Ireland within seven months, faster than in any other territory it has launched.

(Logo: http://photos.prnewswire.com/prnh/20101014/SF81638LOGO)

To put that in perspective, that's four times faster than it took Twitter to hit one million users globally and nearly twice as fast as it took Facebook and Foursquare globally.

"This membership milestone is evidence that Netflix has rapidly gained popularity in the UK and Ireland," said Netflix Chief Executive Officer Reed Hastings. "Our British and Irish members clearly enjoy the ability to instantly watch a large variety of TV shows and films streaming from Netflix on their favourite devices whenever they want."

Consumers are spending more time enjoying entertainment online, according to a survey by YouGov for Netflix. Ten percent of the UK population now dedicates two hours or more of their day to watching their favourite TV show delivered through the Internet.

On Netflix, comedy and drama are the top genre choices among UK and Irish members, whose favourite time of the week to enjoy their streaming entertainment is on a Sunday night.

TV presenter and gadget expert, Pollyanna Woodward comments, "Consumers are beginning to spend more time enjoying entertainment online, streaming TV and film, and this trend is only growing. With services like Netflix, consumers can watch their favourite TV shows and films when and how they want."  

Netflix is available on over 800 devices. Brits spend £565.21 a year on new electronic gear, according to YouGov, meaning that it is likely that any given household has at least one device that can stream TV shows and films from Netflix.

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