Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
HOAG JAY C
  2. Issuer Name and Ticker or Trading Symbol
NETFLIX INC [NFLX]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
C/O TECHNOLOGY CROSSOVER VENTURES, 528 RAMONA STREET
3. Date of Earliest Transaction (Month/Day/Year)
10/22/2010
(Street)

PALO ALTO, CA 94301
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 10/22/2010   M   1,502 A $ 26.64 1,502 D (1)  
Common Stock 10/22/2010   M   1,475 A $ 27.11 2,977 D (1)  
Common Stock 10/22/2010   M   1,475 A $ 27.11 4,452 D (1)  
Common Stock 10/22/2010   M   1,490 A $ 26.85 5,942 D (1)  
Common Stock 10/22/2010   M   1,422 A $ 28.13 7,364 D (1)  
Common Stock 10/22/2010   M   1,351 A $ 29.6 8,715 D (1)  
Common Stock 10/22/2010   M   1,403 A $ 28.51 10,118 D (1)  
Common Stock 10/22/2010   M   1,468 A $ 27.24 11,586 D (1)  
Common Stock 10/22/2010   M   1,451 A $ 27.55 13,037 D (1)  
Common Stock 10/22/2010   M   1,357 A $ 29.46 14,394 D (1)  
Common Stock 10/22/2010   M   1,475 A $ 27.1 15,869 D (1)  
Common Stock 10/22/2010   M   1,368 A $ 29.22 17,237 D (1)  
Common Stock 10/22/2010   M   1,332 A $ 30.04 18,569 D (1)  
Common Stock 10/22/2010   M   1,339 A $ 29.87 19,908 D (1)  
Common Stock 10/22/2010   S   19,908 D $ 169.5395 (2) 0 D (1)  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option (right to buy) $ 26.64 10/22/2010   M     1,502 10/03/2005 10/03/2015 Common Stock 1,502 (3) 0 D (4)  
Non-Qualified Stock Option (right to buy) $ 27.11 10/22/2010   M     1,475 12/01/2005 12/01/2015 Common Stock 1,475 (3) 0 D (4)  
Non-Qualified Stock Option (right to buy) $ 27.11 10/22/2010   M     1,475 02/01/2006 02/01/2016 Common Stock 1,475 (3) 0 D (4)  
Non-Qualified Stock Option (right to buy) $ 26.85 10/22/2010   M     1,490 03/01/2006 03/01/2016 Common Stock 1,490 (3) 0 D (4)  
Non-Qualified Stock Option (right to buy) $ 28.13 10/22/2010   M     1,422 04/03/2006 04/03/2016 Common Stock 1,422 (3) 0 D (4)  
Non-Qualified Stock Option (right to buy) $ 29.6 10/22/2010   M     1,351 05/01/2006 05/01/2016 Common Stock 1,351 (3) 0 D (4)  
Non-Qualified Stock Option (right to buy) $ 28.51 10/22/2010   M     1,403 06/01/2006 06/01/2016 Common Stock 1,403 (3) 0 D (4)  
Non-Qualified Stock Option (right to buy) $ 27.24 10/22/2010   M     1,468 07/03/2006 07/03/2016 Common Stock 1,468 (3) 0 D (4)  
Non-Qualified Stock Option (right to buy) $ 27.55 10/22/2010   M     1,451 11/01/2006 11/01/2016 Common Stock 1,451 (3) 0 D (4)  
Non-Qualified Stock Option (right to buy) $ 29.46 10/22/2010   M     1,357 12/01/2006 12/01/2016 Common Stock 1,357 (3) 0 D (4)  
Non-Qualified Stock Option (right to buy) $ 27.1 10/22/2010   M     1,475 07/01/2008 07/01/2018 Common Stock 1,475 (3) 0 D (4)  
Non-Qualified Stock Option (right to buy) $ 29.22 10/22/2010   M     1,368 08/01/2008 08/01/2018 Common Stock 1,368 (3) 0 D (4)  
Non-Qualified Stock Option (right to buy) $ 30.04 10/22/2010   M     1,332 10/01/2008 10/01/2018 Common Stock 1,332 (3) 0 D (4)  
Non-Qualified Stock Option (right to buy) $ 29.87 10/22/2010   M     1,339 01/02/2009 01/02/2019 Common Stock 1,339 (3) 0 D (4)  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
HOAG JAY C
C/O TECHNOLOGY CROSSOVER VENTURES
528 RAMONA STREET
PALO ALTO, CA 94301
  X      

Signatures

 Frederic D. Fenton Authorized signatory for Jay C. Hoag   10/25/2010
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Jay C. Hoag ("Hoag") has the sole voting and dispositive power over these shares; however, TCMI, Inc. has a right to 100% of the pecuniary interest in such shares. Hoag is a stockholder and director of TCMI, Inc. Hoag disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. Does not include shares held by The Hoag Family Trust U/A Dtd 8/2/94, Hamilton Investments Limited Partnership, TCV IV, L.P., TCV IV Strategic Partners, L.P., TCV VI, L.P. and TCV Member Fund, L.P, which are reported on the Form 4 filed jointly with this Form 4.
(2) This transaction was executed in multiple trades at prices ranging from $169.38 to $169.81. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon written request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was affected.
(3) Not applicable.
(4) Hoag has the sole voting and dispositive power over the options he holds directly; however, TCMI, Inc. has a right to 100% of the pecuniary interest in such options. Hoag is a stockholder and director of TCMI, Inc. Hoag disclaims beneficial ownership of such options or the shares he receives upon exercise of such options except to the extent of his pecuniary interest therein.
 
Remarks:
This is the second of two Reports on Form 4 being filed jointly by the Reporting Person on the date hereof.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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