There are dozens of devices that can stream Netflix (NFLX), but only one can machine be crowned the king of the living room. According to Netflix, that device is Sony’s (SNE) PlayStation 3 console. Without revealing any specific figures, Netflix announced on its blog “in the U.S. and globally, PS3 is the largest TV-connected platform in terms of Netflix viewing” and that “at times, PS3 even surpassed the PC in hours of Netflix enjoyment to become our No. 1 platform overall.” More →
Score this as an enormous win for Netflix (NFLX). The content distribution company on Tuesday announced that it had signed a multiyear deal with Disney (DIS) to deliver major Disney theatrical releases to users’ living rooms in the first pay TV window. In a joint press release, the companies said that starting with Disney’s “2016 theatrically released feature films, new Disney, Walt Disney Animation Studios, Pixar Animation Studios, Marvel Studios and Disneynature titles will be made available for Netflix members to watch instantly in the pay TV window on multiple platforms, including television, tablets, computers and mobile phones.”
UPDATE: According to The Next Web, the deal gives Netflix “the ability to show those titles as soon as they’re available for anyone to watch in the first pay window, not just those with video on demand.” The companies’ full press release is posted below.
Verizon (VZ) and Coinstar (CSTR) earlier this year announced a joint video streaming service to compete with Netflix (NFLX) and Amazon (AMZN). The service, which is called Redbox Instant by Verizon, is now in its testing phase and is set to become available by the end of the year. Janko Roettgers of GigaOM found some key details about the service while digging through the Redbox Instant website, which has now become password protected. More →
iPhone developers may not have had much time to update their apps for the iPhone 5′s larger screen, but that hasn’t posed a problem for Netflix (NFLX), which on Thursday released an updated version of its iOS app designed specifically to deliver video to the new iPhone’s four-inch display. Netflix also says that the latest version of its app offers “improved browsing, searching and watching experience” and “added support for iOS 6.” More →
With so much competition in the streaming video business, it’s only natural that Netflix (NFLX) is feeling the heat. In an interview with The Wall Street Journal, Netflix CEO Reed Hastings wasted no time in sharing his thoughts on why his company’s streaming video is better than Amazon’s (AMZN) Prime Video. Besides stating how Netflix has better algorithms in place to deliver recommended content and how the user experience is better because video is its only business, Hastings says that Amazon Prime Video is “a confusing mess” and that consumers don’t want lower prices that come at the expense of more available content.
Netflix (NFLX) announced on Tuesday that its iPhone and iPod touch app received a major update that brings over its UI and experience from the company’s tablet apps. Marketed as “more immersive” than the previous version, the new Netflix app features more titles and galleries on single screens and “personalized rows filled with movie and TV recommendations” to make finding new content and enjoying old favorites easier than ever. Other appreciated tweaks include a “browse menu” that reveals lists of smartly categorized genres galleries, universal search throughout the app and a new bar at the top of the screen that lets users continue watching where they left off. For a full walk-through of the guide, check out the video below with Netflix’s Director of Product Innovation, Chris Jaffes.
Here’s a good reason to envy of your friends across the pond: They’ll soon have a free satellite television service that will come integrated with Netflix (NFLX). The Telegraph reports that Netflix and Freesat are teaming up to sell a new set-top box that “will give users direct access to Netflix and other on-demand services” along with Freesat’s subscription-free satellite television service. As the report explains, Freesat is a partnership between both the BBC and ITV to deliver satellite television services that are free after users buy a set-top box. This has obviously caused friction with pay-TV services such as BSkyB, which believes the BBC is acting more as a commercial entity than a public broadcasting network. More →
Remember when Verizon (VZ) and Coinstar’s (CSTR) Redbox agreed earlier this year to create a joint video streaming service? Well, it seems the two companies are finally ready to start testing it out, as All Things D reports the new service is undergoing alpha testing with the hopes of launching later this year. But as the report states, users should keep their expectations somewhat low when it comes to the new Redbox Instant service, since it will likely focus more on movies than popular television shows and it probably won’t feature a lot of hot recent releases since “Hollywood studios weren’t excited about giving Netflix (NFLX) access to relatively recent films for its service, and I don’t think they’ll treat Redbox Instant any differently.” More →
Netflix’s (NFLX) stock has taken a beating over the past year — Netflix shares were trading around $80 on Tuesday, down from a 52-week high of $285.50 — but things have been looking marginally brighter in recent months. The company posted a narrower than expected $5 million loss in the first quarter this year, and Wall Street was expecting a profit of $0.05 per share on $888.9 million in sales for the June quarter. Netflix posted its second-quarter results shortly after the close of the market on Tuesday, and it beat analysts’ consensus with a profit of $0.11 per share on revenue of $889 million.
Netflix on Tuesday revealed that its subscribers streamed more than one billion hours of video for the first time ever in June. The company’s CEO Reed Hastings announced the milestone and congratulated his team with a post on his Facebook page. “Netflix monthly viewing exceeded 1 billion hours for the first time ever in June,” the executive revealed. “When House of Cards and Arrested Development debut, we’ll blow these records away.” The 1 billion hours of collective viewing comes to a monthly average of 38 hours per streaming subscriber according to the Associated Press, an increase from 28 hours per customer in December. Netflix has more than 26 million streaming subscribers in the United States, Canada, Latin America, the United Kingdom and Ireland. The company offers its streaming service for $7.99 per month. More →
The United States Department of Justice is trying to figure out whether cable companies are engaging in anti-competitive practices by not counting data consumed through their own homemade streaming services against customers’ monthly bandwidth caps while docking users’ caps for data streamed through third-party companies such as Netflix and Hulu. The Wall Street Journal reports that the investigation has been ongoing for months and that the DOJ has spoken with the major cable players as well as the major content distributors. The investigation stems at least in part from Comcast’s decision earlier this year to exempt data consumed through its Xfinity Xbox app from customers’ monthly data limits, as the DOJ is “examining whether Comcast’s Xbox policy violated legal commitments made by the company in 2011 to secure antitrust approval for its takeover of NBCUniversal,” WSJ reports. More →
Apple has been dethroned as the dominant player in the U.S. online movie business. According to a recent report from market research firm IHS iSuppli, Netflix surged past Apple’s iTunes service in 2011 to become the largest U.S. online movie service by revenue. Netflix’s market share soared to 44% in 2011, an increase from less than 1% in 2010, while Apple’s share of total revenue declined to 32.3% last year from a 60.8% in 2010, despite seeing strong revenue growth. “2011 marked a sea change in the online movies business that saw the balance of consumer spending shift from a DVD-like transactional model to more TV-like subscription approach,” said Dan Cryan, research director for digital media at IHS. “The online movie business more than doubled in 2011 to reach $992 million and it is expected to double this year as well.” IHS iSuppli’s press release follows below. More →
Netflix posted its financial results for the first quarter of 2012 after the bell on Monday. The company reported a loss of $0.08 per share, or$5 million, on $870 million in revenue, beating analysts’ consensus. Netflix posted a profit of $1.11 per share on $719 million in revenue in the first quarter last year, and Wall Street was expecting a loss of $0.27 per share on $866 million in sales this past quarter. All eyes were on Netflix’s subscriber additions this quarter, and the company said it added nearly 3 million streaming customers in the first quarter, including 1.21 million international streaming subscribers. The company shed more than one million DVD rental subscribers in the U.S. after losing 2.76 million DVD subscribers in the fourth quarter. Netflix’s global streaming subscriber count now sits at more than 26 million, up from 24.4 million at the end of the fourth quarter. In the second quarter, Netflix expects a net loss of between $6 million and $8 million as domestic streaming subscriber totals reach between 23.6 million and 24.2 million, below the Street’s estimates of 24.5 million. Shares of Netflix stock tumbled nearly 15% in after-hours trading on Monday following the release of the company’s earnings report. More →