Netflix has issued its Q1 letter to investors, revealing a subscriber count that has grown by 3.3 million to 23.6 million subscribers. Among the financial details were a few tidbits about its position and plans for the future, including acknowledging Comcast -- which now has fewer customers than Netflix -- CEO Brian Roberts' calling Netflix "rerun TV" as "fundamentally correct" and reiterating its belief that Netflix strengthens traditional video channels. There's also terms like "cord mending" thrown about, though it does also acknowledge TV Everywhere and video on-demand as potential competitors. In terms of new competition like Hulu Plus and Amazon Prime Instant Video the plan is simple: grow faster and buy more content than them while also developing "two or three" similar deals to the already announced original series House of Cards. We'll wait for the investor call at 6 p.m. to hear more details, click through to read the PDF for yourself.

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Netflix Q1 report shows 23.6 million subscribers, embraces rerun TV moniker