Netflix's Streaming Battle
9:25 AM -- Now that Netflix Inc. (Nasdaq: NFLX)'s DVD competitor,
Blockbuster Inc. , has filed for Chapter 11, the company is turning its full attention to a different battlefront -- streaming video -- where it faces off with giants like
Apple Inc. (Nasdaq: AAPL), Amazon.com Inc. (Nasdaq: AMZN), and
Google (Nasdaq: GOOG).
According to a report from The New York Times, Netflix's primary weakness in this market is the relatively small selection of movies available for its streaming service, Watch Instantly. Netflix offers 20,000 movies for streaming, only a fifth of its DVD catalogue, and has not been able to negotiate streaming rights for newer hits.
“Streaming is a much more competitive environment, and Netflix’s competitors have the money it takes,” Credit Suisse analyst John Blackledge told NYT.
In other news:
— Erin Barker, Digital Content Reporter, Light Reading Cable