Netflix rolls past $2 billion in annual web sales

Netflix keeps on churning out the financial milestones. This year’s accomplishment: generating more than $2 billion in e-commerce sales.

For the fiscal year ended Dec. 31, 2010, Netflix reported:

•Total revenue increased by about 29.4% to $2.16 billion from $1.67 billion in 2009.
•Net income was $160.9 million, a 38.8% increase from net income of $115.9 million last year.
•Subscribers increased by 63% to 20.01 million from 12.27 million.

More than one-third—over 2.5 million—of Netflix’s 7.7 million new subscribers are signing up for the pure streaming plan and not receiving discs in the mail, the company says, “We expect that percentage to grow over time. The balance of new subscribers primarily takes our $9.99 1-DVD combination plan. Very few of our existing subscribers are downgrading to the pure streaming plan,” says Netflix.

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