NETFLIX INC — Director's Dealing 2004

Jan 28, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NETFLIX INC (NFLX)
CIK: 0001065280
Period of Report: 2004-01-26

Reporting Person: HOAG JAY C (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-26	Common Stock	S	9069	$75.55	Disposed	3982	Indirect
2004-01-26	Common Stock	S	279179	$75.55	Disposed	122568	Indirect
2004-01-26	Common Stock	S	42625	$75.55	Disposed	18713	Indirect
2004-01-26	Common Stock	S	214637	$75.55	Disposed	94232	Indirect
2004-01-26	Common Stock	S	38090	$75.55	Disposed	16723	Indirect
2004-01-26	Common Stock	S	830095	$75.55	Disposed	1780697	Indirect
2004-01-26	Common Stock	S	30953	$75.55	Disposed	66401	Indirect
2004-01-26	Common Stock	S	23897	$75.55	Disposed	0	Indirect
2004-01-26	Common Stock	S	21300	$75.55	Disposed	0	Indirect
2004-01-26	Common Stock	S	8760	$75.55	Disposed	0	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5702	Indirect

Footnotes

F1: Reporting person is a managing member of Technology Crossover Management II, L.L.C. ("TCM II") which is the general partner of Technology Crossover Ventures II, L.P., Technology Crossover Ventures II, C.V., TCV II, V.O.F., TCV II (Q), L.P. and TCV II Strategic Partners, L.P. (collectively, the "Limited Partnerships II"). Reporting person is also a managing member of Technology Crossover Management IV, L.L.C. ("TCM IV") which is the general partner of TCV IV, L.P. and TCV IV Strategic Partners, L.P. ("the Limited Partnerships IV"). Reporting person, TCM II and TCM IV may be deemed to beneficially own the shares held by the Limited Partnerships II and Limited Partnerships IV but reporting person, TCM II and TCM IV disclaim beneficial ownership of such shares except to the extent of their pecuniary interest therein.

F2: Reporting person and his wife are the sole trustees of The Hoag Family Trust U/A Dtd 8/2/94 .

F3: Reporting person is the sole general partner and reporting person and his wife are the sole limited partners of Hamiliton Investments Limited Partnership.

F4: On 12/12/03 The Hoag Family Trust U/A Dtd 8/2/94 gifted 21,300 shares to the Hoag Family Foundation, a non profit corporation. Reporting person and his wife are the sole trustees of the Hoag Family Foundation.