The trickle of details out from Redbox’s Instant streaming service had a quick and negative effect on Netflix’s share value, with the company suffering its biggest decline in more than a month.
Netflix shares dropped 7 percent on the news that Redbox’s upcoming streaming partnership with Verizon, which may arrive in the next few weeks, would undercut Netflix in pricing on a basic streaming plan.
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Spokespeople for both Netflix and Redbox declined to comment on the leak and its Wall Street fallout.
Should Netflix be as worried about Redbox Instant as its investors appear to be?
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[via Bloomberg]
No, not at all. NetFlix is a way way a head of the RedBox deal.
Anytime you fart Investors jump a mile.
Until I see just what the RedBox deal really is. How it works? And what they have? What you can play it on? Will it have CC and SDH?
I will sit tight with my NetFlix.
It has everything I want.
alexdombroff@alexanderdombroff.com
alexdombroff@alexanderdombroff.com
alexdombroff@alexanderdombroff.com