Jan 29, 2009 01:36 PM EST

Netflix Posts Increase In Membership During Recession

According to Variety, Netflix has reported that they have had a 45% spike in profits for their fourth quarter.

Their subscriber list has grown to reach 9.4 million people, with approximately 718,000 of those joining since September.

Revenue was reportedly $360 million, with profits reaching $23 million.

The company is predicting that the 10 million subscriber mark will be reached by the end of the first quarter.

For more information and to subscribe to Netflix visit them at www.netflix.com.

Source: Variety
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