Netflix Canada Plans to Double Content Spending As 2011 Q3 Results in Profit

Today Netflix announced their 2011 Q3 financials and their story in the U.S. wasn’t pretty as they lost over 800,000 subscribers, although their earnings rose 65 percent.

However, the situation in Canada is one of their lone shining stars. Netflix Canada now boasts over 1 million members and the company announced the 2011 Q3 quarter made a small profit. More importantly, Netflix announced over the next year they plan to double quarterly content spending, and we should see new feature films in Q4 such as True Grit, Black Swan, and The Chronicles of Narnia (these titles are already available). We will also see high profile feature films ‘coming out of their first pay window’, more premium catalogue film titles, and TV series.

Netflix says by the time all this new content is added to the Canadian library, we will have comparable content to the U.S., and they will be spending the population-adjusted equivalent. This new investment for added Canadian content will cause Netflix Canada to lose money over the next few quarters, but plans are to achieve profit by Q3 in 2012, two years after the initial launch.

Netflix Canada was off to a slow start, but it appears the library has continued to grow with decent content. All four seasons of Mad Men are available, and also the first season of The Walking Dead. For all you fans of the original 90210, the first six seasons are also available. Don’t forget to check out this tip on how to track new releases and here on reducing your bandwidth usage.

Click here to check out Netflix Canada, the first month is free. What are some titles you’ve been happy to see in the Canadian library?