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Business
January 4, 2012
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Netflix streaming subscribers watched more than 2 billion hours of video during Q4

By on January 4, 2012 at 3:10 PM.

Netflix streaming subscribers watched more than 2 billion hours of video during Q4

Netflix announced on Wednesday that its streaming subscribers around the world watched more than 2 billion hours of video during the fourth quarter of 2011. The company also said it served more than 20 million streaming subscribers during the quarter. “We were thrilled to deliver more than two billion hours of TV shows and movies across 45 countries in the fourth quarter,” said Netflix Co-Founder and CEO Reed Hastings. “Netflix delights members by giving them choice, convenience and control over the entertainment they love for an incredibly low price.” The company lost 800,000 customers during the third quarter when it upset customers by raising its prices and then confused them with a short-lived attempt at a DVD rental spinoff business called Qwikster. Netflix is set to debut its original series “Lilyhammer” on February 6th and fresh content, such as Drive, Hugo, Captain America and Margin Call, will be available to customers in the coming months. The full Netflix announcement follows after the break. More →

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General
July 20, 2011
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Amazon inks licensing deal with CBS; Cheers, Star Trek added to Amazon Prime library

By on July 20, 2011 at 11:14 PM.

Amazon inks licensing deal with CBS; Cheers, Star Trek added to Amazon Prime library

Amazon and CBS have reached a licensing deal in which CBS will provide Amazon Prime subscribers with access to its television shows.The deal will add 2,000 TV episodes from popular shows such as The Tudors, Medium, Frasier, Cheers, Numb3rs, and the full Star Trek franchise to the Amazon Prime library, which already has more than 8,000 movies and TV shows. Amazon expects the content to be available during this summer and it confirmed that its Instant Video customers will also have access to the library. Read on for the full press release. More →

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General
July 12, 2011
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Netflix raises prices, intros new plans

By on July 12, 2011 at 6:30 PM.

Netflix raises prices, intros new plans

Netflix announced two new unlimited DVD plans on Tuesday, including a $7.99 option for one DVD at a time and an $11.99 option that allows users to rent two DVDs at a time. The company also said that it will discontinue its current $9.99 monthly option that provides access to unlimited DVD rentals and unlimited instant streaming each month. Instead, the movie rental service will charge users $7.99 a month for unlimited streaming and a minimum of $7.99 per month for unlimited DVDs (with one rented out at a time at that rate). Essentially, that means users with the current $9.99 offering will instead have to cough up $15.98 per month in order to maintain their current subscription plan. “Reflecting our confidence that DVDs by mail is a long-term business for us, we are also establishing a separate and distinct management team solely focused on DVDs by mail, led by Andy Rendich, our Chief Service and Operations Officer and an 11 year veteran of Netflix,” the company said in a blog post. Netflix’s current plans will expire in September, and users will need to switch to a new plan by that time. More →

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Software
May 16, 2011
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Netflix inks multi-year instant streaming deal with Miramax

By on May 16, 2011 at 8:50 PM.

Netflix inks multi-year instant streaming deal with Miramax

Netflix announced on Monday that it has reached a multi-year agreement with Miramax to offer several hundred Miramax films, including hits like Pulp Fiction, Kill Bill, and Good Will Hunting, through its instant streaming service. “From day one, we’ve been very clear about the importance of digital and our desire to respond to the significant pent-up demand for our films — delivering to consumers whenever and wherever they want,” Miramax CEO Mike Lang said. Netflix did not disclose the financial terms of its deal with Miramax. Netflix subscribers looking to get in on the action will be able to access the new content — on a rotating basis — beginning in June. Hit the jump for the full press release. More →

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General
April 26, 2011
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Netflix reports subscriber growth, revenue spike in Q1 2011 earnings

By on April 26, 2011 at 5:59 AM.

Netflix reports subscriber growth, revenue spike in Q1 2011 earnings

Netflix released its fiscal first quarter 2011 earnings on Monday and, thanks to record amounts spent on marketing, the firm reported an increase in net customer additions and a spike in revenues. The video subscription service added 3.3 million domestic net customers during the quarter, a 94% increase year-over-year — that service now serves 23.6 million subscribers globally. Netflix reported revenues of $719 million, up 46% year-over-year, and a net income of $60 million, an 88% jump from the same period a year ago. The company said noted that it expects DVD shipments to decline and spending on streaming content to “increase substantially” in the second quarter and beyond. Hit the jump for Netflix’s letter to shareholders. More →

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Software
March 23, 2011
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CBS will remove some Showtime shows from Netflix

By on March 23, 2011 at 9:32 PM.

CBS will remove some Showtime shows from Netflix

CBS confirmed today with Dow Jones that it will pull some of its Showtime television shows from Netflix, and apparently Netflix is pretty shocked by the news. A Showtime spokesperson said that it will remove the episodes of shows that are currently still airing on television from Netflix’s portfolio when the current partnership deal between the CBS and Netflix ends this summer. “We’re perplexed by this,” Steve Swasey, a Netflix spokesperson told Dow Jones. “We have great Showtime shows available on our service, and we expect to continue with those shows. We have a very good relationship with CBS and all its channels.” Two popular shows that are currently offered by Netflix and are still airing are “Californication” and “Dexter.” As big “Californication” fans here at BGR, we’re pretty bummed by the news. More →

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