Netflix continues growth introduces $12 family plan

In the first three months of 2013 Netflix added three million new subscribers, of these two million were in the US market while the last million was globally, this resulted in a stock increase of  nearly 25% in after-hours trading.

According to Quartz this also resulted in Netflix now having more subscribers than HBO:

After several strong quarters of growth, Netflix now has 29.2 million people in the US subscribed to its $8-a-month streaming plan, which is, for the first time, greater than HBO’s domestic subscription base of 28.7 million.

In other news Netflix has announced a new family plan, the plan will cost $12/month and will allow the account holder to have four simultaneous streams, the company has yet to announce a specific date. In a letter to investors Netflix said the following:

A few members with large families run into our 2-simultaneous-stream limit,” according to Netflix. “To best serve these members, we’re shortly adding a 4-stream plan, at $11.99 in the U.S., and we expect fewer than 1% of members to take it.