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BUSINESS
January 3, 2004
Online movie rental service Netflix Inc. said its subscriber base grew 74% to 1.49 million during 2003, meeting the company's growth forecast.
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ENTERTAINMENT
October 1, 2013 | By Dawn C. Chmielewski
Netflix Inc. stock soared to record levels Tuesday, apparently propelled by a new analyst report predicting surprising growth in the streaming video service's international subscribers. The stock stock rose to a high of $321.61 in early trading, after MKM Partners analyst Rob Sanderson wrote that global gains in subscribers would exceed expectations, and one day surpass the number of customers in the U.S. Sanderson wrote that the economics of the entertainment business will change with the shift to Internet-delivered programming -- and that Netflix is "a driving force" of this trend.
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BUSINESS
January 13, 2006 | From Associated Press
A proposed legal settlement affecting more than 6 million current and former Netflix Inc. subscribers has been delayed to address complaints that the deal unfairly favors the online DVD rental service and lawyers who sued the company. Approval of the class-action settlement in state court was rescheduled to Feb. 22 after the Federal Trade Commission raised a red flag that warned the agreement "appears dangerously close to being a promotional gimmick" for Netflix.
ENTERTAINMENT
August 18, 2009 | PATRICK GOLDSTEIN
As Yogi Berra would say: Yikes, it's déjà vu all over again. In recent days, my newspaper has been chock-full of stories about the latest round of legal battles between the Hollywood studios and Redbox, the upstart $1-per-night DVD rental kiosk company. My colleague Ben Fritz has done a wonderful job of chronicling all the fussing and fighting, having reported on how three of Hollywood's biggest studios -- 20th Century Fox, Warner Bros. and Universal -- are refusing to provide DVDs to Redbox until at least 28 days after they go on sale.
BUSINESS
January 23, 2007 | From Reuters
Netflix Inc. has cut the price for its lowest-priced online DVD rental plan by $1 per month to $4.99 in response to "an ever-evolving and competitive market," a company spokesman said Monday. The entry-level plan allows subscribers to rent one DVD at a time with a limit of two DVDs per month. Prices for the Los Gatos, Calif.-based company's most popular three-at-a-time plan remained unchanged. The price cut comes about two months after rival Blockbuster Inc.
BUSINESS
March 3, 2005 | From Reuters
Online DVD rental leader Netflix Inc. is prepared to sacrifice profit for as long as five years to win as many as 20 million U.S. subscribers and fend off major rivals such as Blockbuster Inc. and Amazon.com Inc., its chief executive said. Netflix cut its price in October to $17.99 in anticipation of what CEO Reed Hastings believed was Amazon.com's imminent entry into the U.S. market. Los Gatos, Calif.-based Netflix shares fell 11 cents to $10.68 on Nasdaq.
BUSINESS
June 21, 2006 | From Reuters
Online DVD rental company Netflix Inc. said it was considering several options as part of its strategy to let subscribers download movies from the Internet. In a regulatory filing, Netflix said it was clarifying remarks made at a media conference Friday by Eric Besner, its vice president of original programming, who said Netflix was developing a proprietary set-top box. The Los Gatos, Calif.
BUSINESS
January 6, 2008 | From Times Wire Services
DVD-by-mail service Netflix Inc. will begin delivering movies and other programming directly to televisions later this year through a set-top box that will pipe entertainment over a high-speed Internet connection. The box, to be made by LG Electronics Inc., is designed to broaden the appeal of Watch Instantly, a year-old streaming service that Los Gatos, Calif.-based Netflix provides to its 7 million subscribers at no additional cost. LG didn't reveal how much the box would cost. Similar devices made by Apple Inc. and Vudu Inc. cost $299 to $399.
BUSINESS
April 16, 2004 | From Bloomberg News
Netflix Inc., the largest mail-order video-rental service, said its first-quarter loss widened to $5.79 million as marketing expenses rose. The shares fell as much as 11.9%. The net loss of 11 cents a share compared with a year-earlier loss of $2.38 million, or 5 cents, the company said. Sales at Los Gatos, Calif.-based Netflix rose 80% to $100.4 million. Netflix shares fell as much as $4.41 to $32.61 after hours. In regular trading, they rose 52 cents to $37.02 on Nasdaq.
BUSINESS
June 27, 2007 | From Times Wire Services
Netflix Inc., the largest U.S. mail-order movie rental service, settled claims that Blockbuster Inc. illegally copied its method of letting customers order videos over the Internet. The two companies "agreed to a mutually acceptable resolution" of a lawsuit filed in San Francisco federal court in April 2006, according to court filings. Terms of the agreement are confidential. Netflix accused Blockbuster of using its patents to launch a rival online service in 2004.
BUSINESS
March 31, 2009 | Dawn C. Chmielewski
Netflix flexed its muscle Monday, saying it would raise prices about 20% for subscribers who rent Blu-ray movie discs. The movie service said the higher rates would allow it to stock more copies of the high-definition discs to keep pace with demand. The rate change, which takes effect April 27, will add $4 to the $17 monthly fee paid by subscribers who rent three movies at a time. Customers who rent standard DVDs will not be affected.
BUSINESS
January 27, 2009 | TIMES WIRE REPORTS
Netflix Inc.'s fourth-quarter profit climbed 45%, propelled by the widening appeal of its relatively inexpensive DVD rental and Internet streaming service during a budget-crimping recession. The results, along with an optimistic forecast for the current quarter, drove Netflix shares up more than 7% in extended trading. The Los Gatos, Calif., company added 718,000 customers in the final three months of 2008, more than doubling the growth envisioned by management. The surge left Netflix with just under 9.4 million customers through December, a 26% gain from 2007 that suggests more people are looking for ways to entertain themselves at home in the worst recession since the early 1980s.
BUSINESS
October 30, 2008 | Dawn C. Chmielewski, Chmielewski is a Times staff writer.
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.
BUSINESS
October 21, 2008 | The Associated Press
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.
BUSINESS
August 15, 2008 | Alex Pham, Times Staff Writer
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.
BUSINESS
July 26, 2008 | From the Associated Press
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.
BUSINESS
April 29, 2006 | From the Associated Press
Online DVD rental pioneer Netflix Inc. said it would raise $105 million for its expansion plans by selling an additional 3.5 million shares at $30 each. The Los Gatos, Calif.-based company said in Securities and Exchange Commission documents that it might use the money to finance acquisitions or to develop new technology to complement its booming rental service. Netflix expects to complete the offering Wednesday, adding to its current cash holdings of $228 million.
BUSINESS
January 19, 2006 | From Reuters
Online DVD rental service Netflix Inc. named former U.S. Postmaster Gen. William J. Henderson as its chief operations officer, starting next week. Henderson, who served as postmaster general and chief executive of the postal service from 1998 to 2001, succeeds Tom Dillon, who started as Netflix COO in 1999 and is to retire in April. Henderson, 58, will take over managing Netflix's technology, automation and distribution operations, including 37 U.S.
NEWS
January 24, 2008 | From Times Wire Services
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.
BUSINESS
January 15, 2008 | Josh Friedman, Times Staff Writer
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.
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