October 30, 2008 |
Netflix Inc. continues to expand the reach of its "Watch Instantly" video streaming service, striking a deal to make its movie and TV shows available to about 1 million TiVo owners who have high-speed Internet connections. The partnership represents a bit of back to the future for Netflix and TiVo Inc. They originally announced a video-on-demand deal in fall 2004. That earlier agreement unraveled because of a combination of technology and rights issues.
October 21, 2008 |
Netflix Inc.'s third-quarter profit surged 30% amid slowing subscriber growth that's turning into a bigger problem for the online DVD rental leader as the rapidly unraveling economy prods more consumers to clamp down on entertainment expenses. To help boost its revenue, the Los Gatos, Calif.-based company said it would begin charging about 500,000 subscribers $1 more per month to rent high-definition DVDs made for Blu-ray players. The surcharge becomes effective Nov. 5. As the prices of Blu-ray players continue to fall, Netflix is betting that more of its subscribers will buy the high-definition gadgets.
August 15, 2008 |
Netflix Inc.'s DVD queue just got longer -- much longer. The DVD rental service is suffering through its biggest-ever shipping problem. Netflix on Thursday said "severe technical issues" had prevented it from shipping the awaited TV shows and movies to about 2.8 million subscribers, or one-third of its members. Analysts say the Los Gatos, Calif.-based company has built up such a loyal following that few of its subscribers are likely to abandon it if the problem doesn't linger for too long.
July 26, 2008 |
Netflix Inc.'s second-quarter profit crept up 4%, beating analyst expectations as the online DVD rental service signed up 168,000 new customers while spending less money to attract them to the service. The company said Friday that it earned $26.6 million, or 42 cents a share, up from $25.6 million, or 37 cents, in the same quarter a year earlier. The average earnings estimate among analysts surveyed by Thomson Financial was 40 cents a share. Revenue climbed 11% to $337.6 million to match analyst estimates.
January 24, 2008 |
Netflix Inc.'s fourth-quarter profit soared past analyst expectations as the online DVD rental service gained 451,000 customers, providing further evidence that the company had regained the upper hand in its bruising battle with rival Blockbuster Inc. The Los Gatos, Calif.-based company said Wednesday that it earned $15.8 million, or 24 cents a share, for the final three months of 2007, up 6% from $14.9 million, or 21 cents, a year earlier. Revenue climbed 9% to $302.4 million from $277.
January 15, 2008 |
Netflix, seeking not to be bypassed in the transition to digital distribution of movies, removed limits on how many films and TV shows subscribers can watch over the Internet. The move comes as Apple Inc. is set to unveil plans for users to rent major Hollywood movies online through its iTunes Store. Netflix, which pioneered the online movie rental business in 1997, had capped the number of hours available to its 7 million subscribers based on the price of their monthly plan.