Netflix (NFLX) Does well On Digital Media Front, Says CNBC

Online DVD rental giant Netflix (NASDAQ: NFLX) continued its impressive performance and posted strong Q4 numbers. The firm reported an increase of 36% in its Q4 profits. Netflix also recorded 24 percent increase in its revenue.

According to CNBC'S Julia Boorstin, in an earlier interview, Netflix' CEO Reed Hastings had underscored the importance of digital media for the company's growth. He seems to be right, since nearly 50% of Netflix subscribers watched online videos this quarter.

According to CNBC, this figure was less than 30% in the preceding quarter. Netflix is expected to continue with its digital media distribution strategy since now Netflix is embedded in more and more new devices.