Netflix recently held an event where it handed out a million dollar prize to a team that developed an algorithm to improve Netflix’s movie recommendations.
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CEO Reed Hastings was in attendance, and during an interview had some interesting comments to make concerning the future of Netflix and the DVD rental industry as a whole.
One of the big questions Hastings was asked concerned where he thought we were at on the road to all-digital movie watching:
“There will be people doing DVD-by-mail in 15 or 20 years, so I think DVD will last a long time. Our best guess is that DVD will peak for us in 5 or so years. But it is continuing to grow. And the streaming is exploding. So we are getting nice growth in the DVD side and huge growth on the streaming side.
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On the subject of Netflix’s streaming plans, Hastings said that while his company currently has an exclusivity deal on the Xbox 360, Netflix’s streaming service will hopefully eventually “be on all the game consoles, all the Blu-ray players, (and) all the Internet TVs.”
Hastings also echoed comments he has made in the past stating that he doesn’t see Redbox as a direct competitor. When asked about the impact Blockbuster’s plan to close hundreds of retail locations would have on his company’s business, Hastings had the following to say:
“Blockbuster and Redbox really compete on doing the inexpensive new releases, and we are much more the streaming and the catalog. Their closings don’t really benefit us. It will benefit Redbox more than it does us.”
Over to you, RedHeads. Do you agree with Netflix’s CEO that physical media will still be alive and kicking fifteen or twenty years from now? How do you think you’ll be watching movies in the coming decades?
I think there will be *some* physical media still being sold, but it probably will be something that isn’t out yet – in my lifetime (36 years), I’ve already seen VHS, beta, laserdisc, CED, DVD, HD DVD, and now Blu-ray.
Oh, I forgot that before VHS we had 8 mm film. In fact, we were still using those in Jr. High in the late 80s.
i’m still waiting 4 a brain “movie” inplant.
Will the “in plant” have a spell checker too?
Doubt it but if you were to get an “iMplant” I’m sure it would be possible…
I think DVD will peak and start to die down within the next 5 years and Bluray and streaming will pick up until some other sort of something comes out. Weather it be HD movies put on small flashdrive type things or devices like Apple TV take over. Streaming won’t be like DVD is now for probably another 10-20 years due to cost.
Dvds will be around for a long time to come, it’s a great medium and it’s not going anywhere for a long long time.
why dont they just make like usb video players.. small and efficient. the movies will be put in a usb.. plug and play.. walla! saves space instead of having big dvd cases…
The question if DVD or Blu-Rays will be around or any other physical media will be determined by the distribution. Big box retailers are moving away from this because of the cost of distribution and how successful Apple has been capturing most of the music distribution.
Personally I look forward to who ever we can purchase or rent media from via the Internet. Cable companies have it wired with the OnDemand feature which is available with a click of a button
Redbox price point is perfect since anyone can justify a movie rental for a dollar. Hopefully Redbox will develop something for the net to keep them a viable company for years to come. Having access to thousands of titles of current and older movies all at a dollar or even offering an unlimited rental rate for a flat fee will give the cable companies and NetFlix competition which in the ON Demand area is untouched
Does anyone remember the failure of DIVX, or whatever it was called. You bought the movie but could only watch it once. Circuit City was the chief seller of the player. If the movie industry had their way, that’s where we would be.