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The quarterly number of Netflix subscribers has gone down for the first time since the online DVD rental company's inception. Though the 6.8 to 6.74 million drop was small, it was enough to push the stock price down 16 percent yesterday from 6.8 to 6.74 million -- egged on, no doubt, by the recent $1 price drop in Netflix's most expensive plans.
Netflix, which pioneered the online DVD rental business, has recently been under pressure from Blockbuster, which, ironically, has also seen its profit drop ever since the advent of Netflix. The $1 price drop brought the Netflix plans in line with the Blockbuster subscriptions, price-wise, but Blockbuster's plan offers the added benefit of letting you return DVDs rented online to its brick and mortar stores, and exchange them for new movies on the spot.
Recently, Netflix launched its streaming movie site, which lets you watch many of the movies in your rental queue online on a PC. So far, Blockbuster isn't doing any such online movie download or viewing service. DVDs, like CDs, are on the way out, thanks to the increased accessibility and quality of downloaded movies. Blockbuster had better think about offering online downloads of some sort soon, or its temporary victory will be short-lived.
From TG Daily and AOL Money & Finance.
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Comments
23
Subscribe to commentsmindyNov 7th 2007 1:09AM
LACKLUSTER, family guy got it right. They are overpriced and I am so surprised they haven't gone out of business sooner. Netflix rocks!!!
MattNov 7th 2007 12:47PM
We had Netflix for almost a year. The main office for us is approximately 90 miles away. We were getting 6 movies a month on the 1 at a time plan. We watched them imediately and I dropped them off at the post office the next morning on my way to work. Sometimes we would watch them before the end of the mail collection for that day and I would run them up to the P.O. After about 2 months we were getting 1 a week and it never changed. I wrote to Netflix to ask why it was taking a week to get our movies, we were getting them in 4 days at the start. Nothing changed. None playing DVD's take away 1 rental while you wait, plus most DVD's are dirty and you have to clean your player more often. Obviously anyone living in the city where the office is located is going to get faster service. We were disappointed and let them go. Some of the movies we rented we dollar-type rentals so the benefit wasn't there. I believe that anyone trying to get a bunch of movies in a short time is going to get mail delays.
I continue to purchase movies through Columbia House. Yes we would pay more but we own them and if you stay with them (like most people don't after they fulfill their obligation), you get some great specials. You earm Funcash dollars in exhange for free movies, Deal of the day where movies are around $5, sometimes free shipping and double and triple funcash per DVD. We average about $9 for each movie not counting the free ones we will get at the end of the year. That figured in would make them about $7 including shipping. We use this system as opposed to going to the theater. If you don't go to the theater you could own 2 movies for less than the price of 2 tickets and popcorn if you wait for it's DVD release.
BillNov 7th 2007 2:56PM
I use both. While the battle of the DVD titans rages I am enjoying the benefits. I have a Netflix 3 at a time deal at the discounted price. I have the $9.99 blockbusters package. Between the two I always have a movie to watch. I hope nothing changes. I love the flexibility of getting "series" like Rome, The Wire from Netflix and "pop" films from Blockbuster.