Netflix Q4 profit up 45 percent, defying recession - SiliconValley.com

The Los Gatos, Calif.-based company added 718,000 customers in the final three months of 2008, more than doubling the growth envisioned by management. The surge left Netflix with just under 9.4 million customers through December, a 26 percent gain from 2007 that suggests more people are looking for ways to entertain themselves at home in the worst recession since the early 1980s.

Netflix, launched a decade ago, has emerged as an enticing option by offering subscription plans that charge $9 to $17 per month to rent DVDs through the mail and watch a more limited selection of other video over high-speed Internet connections.

Netflix Q4 profit up 45 percent, defying recession - SiliconValley.com