Among the other revelations from Netflix’s recent financial report is the fact that the company still generates more than half of its operating income from its DVD-by-mail business. Netflix made nearly $90 million in operating profits from disc rentals this most recent quarter.
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This is generally not a good sign for a company. Outerwall, corporate parent of Redbox, announce today that its long-time CEO, Scott Di Valerio, has has stepped down from his position and resigned from the company’s board of directors. Until Di Valerio’s replacement is found, board member Nora Denzel will fill the interim CEO spot.
Netflix announced its fourth quarter financials today, and investors were pleasantly surprised. Netflix beat its own forecast of 4 million new subscribers by adding 4.33 million in the final quarter of the year. Netflix’s global subscriber total is now closing in on 60 million.
Amazon has already become a creator of original entertainment content, but now the company wants to take things a step further. Amazon has announced that it will start work on the production of and acquisition of “Amazon Original Movies” that will hit its Prime Instant Video service just four weeks after their theatrical reviews.
Think that pay-TV is toast in a world rapidly turning to Netflix, Amazon Prime, Hulu, and other streaming options. A recent report by Deloitte Touche Tohmatsu Limited in the United Kingdom may make you think again.
Redbox recently showed off a new system at the Las Vegas Consumer Electronics Show that lets shoppers know when a Redbox kiosk is located on the property they’re on. It will also let them know what movies are in stock in the box and if there are any current promotions going on.
The convenience and cost-effectiveness of streaming movies and TV shows continues to gain traction, particularly with younger consumers. According to a survey commissioned by the National Association of Television Program Executives (NATPE), seven out of 10 consumers who live in a broadband-equipped household have streamed a full-length TV show in the last six months.
2014 will go down as an overall rough year for the home entertainment industry. Even though consumer spending on electronic movie purchases rose more than 30 percent, overall spending on movie purchases dropped.