Pachter: Netflix to gain 2 million subscribers this year

Now that all three major consoles will have access to Netflix, Michael Pachter predicts a net gain of over two million subscribers for the movie rental service. The number crunching guru says that although there is a lull in new Netflix subscriptions, the PS3 and Wii will contribute 800,000 new members while the Xbox 360 continues to chug along, adding an additional 350,000.

Pachter does caution that there is a ceiling on this growth, as the PS3 install base in the US – where Netflix is currently only available –  is not as large as the Xbox’s and, while there are 50 bajillion Wiis sold on a daily basis, the analyst’s firm estimates “fewer than 35% ” are connected to the internet. Those facts combined drop the projected subscriber growth for each subsequent year to less than 1.2 million.