May 28, 2008 / 4:03 PM / 11 years ago

Netflix expects DVD mail business to peak in 5 yrs

SAN FRANCISCO (Reuters) - Reed Hastings, chief executive of Netflix Inc, said he expects the company to hit 10 million subscribers by next year, but that the DVD by-mail business will peak in the next five years.

“We think the by-mail business is very strong but will probably peak in the next five years,” said Hastings at the Netflix Investor Day in San Francisco on Wednesday.

“Our key challenge is growing earnings per share and subscribers while funding streaming (online video) which should give us years of subscriber and earnings expansion,” he told analysts.

Reporting by Sue Zeidler; editing by Jeffrey Benkoe

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