Wednesday, October 20, 2004

Hastings speaks regarding Amazon entering the fight

Via IMDb.com's Studio Briefing for 10-20-04:

" Netflix Founder Predicts Online DVD Shake-Out

Netflix founder Reed Hastings said that he 'went through the normal anger, denial and grief syndrome' when he confirmed rumors that Amazon was planning to enter the online DVD rental business. However, he told today's (Wednesday) Wall Street Journal [subscribers only], he had been expecting some such occurrence. 'From inception, we have been telling our employees, there will be big new competition coming in the future; we don't know when or how. So everyone is pretty prepared for a big fight.' Hastings expressed confidence that Netflix will eventually obtain the rights from studios to distribute their films electronically as well as by mail. He said that Netflix will be able to compete with more established firms in online delivery 'by having the best brand, the best service, the best movie-choosing, the best pricing. ... Somebody has an opportunity to build a 20-million subscriber base here ... and if you do the math, 20 million subscribers is about $4 billion in [annual] revenue.' " (c) Studio Briefing

2 comments:

  1. If NETFLIX continues to do this trick where they keep listing your DVDs as shipping the next day even when it is shipped from your processing I don't think they will survive. Lower prices are not a substitute for poor service. This is a method they are using to lower prices on individuals who request to many DVDs in their view.

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  2. Dude, Netflix rocks.....I mean they are totally the best no question about it, I have used all 3 main online rental company's and Netflix is the very best.....Fact!

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