Netflix profits rise fivefold as streaming service hits 44 million subscribers

from Online movie and TV streaming service Netflix announced it had over 44 million subscribers worldwide by the end of last year, and revealed on Wednesday that profits had risen more than fivefold.

The company, which delivers DVDs by mail as well as offering movies and TV shows online, had about 33.4 million paying subscribers in the US by the end of the fourth quarter and expects to add 2.25 million more in the current quarter.

Internationally Netflix ended the fourth quarter with more than 9.7 million paid members, adding about 1.7 million over the quarter. It expects to add another 1.6 million in the current quarter. Netflix said this year it planned to “embark on a substantial European expansion“.

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