Popular movie rental company Netflix reached 23.6 million subscribers in its first quarter, which is over three million more subscribers than it started the year with, according to a press release on Netflix’s website.
Netflix has experienced exponential growth since it started in 1999. In the last year its subscribers grew by 69 percent, according The Wall Street Journal’s website.
Netflix is an online service that allows subscribers to rent DVDs to their homes or stream certain contents online. Netflix began the “Watch Instantly” section of their website in 2008.
Netflix is also expanding their base to allow users to stream videos on different video games consoles, iPhones, Internet-connected TVs, and other devices.
Subscribers are charged $7.99 per month for a Netflix account. People can purchase accounts in the United States and Canada.
University of Maryland students find the “Watch Instantly” aspect of Netflix one of the biggest perks of the service.
“Netflix is awesome for college students because it’s a good way to keep track of all your TV shows when you may not have time to watch them,” said freshman Daniel Gallen.
“After using someone else’s Netflix account, I would probably get my own account. But I like using my friend’s,” said sophomore Lizzi Bonczek.