Netflix shares plunge on fears over growth plans

Netflix shares plunged yesterday after a number of analysts warned that the company’s growth plans, particularly internationally, will see further losses. The online streaming firm and DVD rental service saw shares drop by 6% from US$100 (€77) to US$93.96 after Wedbush Securities analyst Michael Pachter and Sterne Agee analyst Arvind Bhatia released notes on the […]

Netflix searching for new marketing boss

Netflix is searching for a new marketing boss after veteran chief marketing officer Leslie Kilgore was moved to non-executive director of the Netflix board. Jessie Becker, who was previously vice-president, marketing, will become chief marketing officer on an interim basis, while the company conducts an external search. Kilgore has been with Netflix for the last […]

Netflix facing class action lawsuit

US movie rental service Netflix is facing a lawsuit filed in California accusing execs of misleading investors about the declining fortunes of the company’s streaming business, whilst gaining $90 million (€71 million) in stock when shares were at their highest. The class action lawsuit claims execs made “materially false and misleading statements regarding the company’s […]

Netflix launches in the UK and Lovefilm responds

Netflix has launched a TV series and film streaming service in the UK, its first roll out outside the Americas. Netflix will cost UK customers £5.99 (€7.25) a month and rival streaming service Lovefilm immediately responded with an introductory £4.99 (€6) a month streaming deal, heralding the prospect of a price war between the two.

Netflix up as quarterly streaming numbers hit two billion

Netflix shares were up sharply yesterday after the company said that streaming figures among its US customers were significantly above expectations.
 The content streaming and delivery company reported that two billion hours of content were streamed in the final three months of 2011, almost twice the amount analysts were forecasting. The US-listed company’s stock, which […]

Netflix signs BBC deal for UK service

Netflix has signed a content deal with BBC Worldwide that will bring various programming from the public broadcaster to its streaming platform when it launches in the UK and Ireland next year. Financial terms of the deal are not being disclosed but Netflix said that BBC shows including Torchwood, Spooks, Little Britain and Fawlty Towers […]

Verizon could acquire Netflix

Verizon is reportedly considering a plan to acquire online video service Netflix as it looks to enter the video streaming market. The move, which was first reported via investor research firm Dealbreaker, would be a hugely significant development in the online video market and comes after a tough few months for Netflix, which abandoned plans […]

Netflix extends Xbox service into Lat-Am

Video streaming service Netflix has extended the functionality of its Xbox service in the US and is launching it in Latin America. It has been optimised for Xbox and now allows users to select more TV series and movies on screen, new interactive options and support for titles in high-definition. The Xbox service has also […]

BSkyB says competition probe should include Netflix

UK pay TV operator BSkyB says that the Competition Commission should include online content providers such as LoveFilm and Netflix. The Commission is investigating the market for pay TV movies in the UK and whether Sky has a dominant position. Sky says it has neglected to include the online services already present in the UK […]

Netflix plans $300 million original content spend

Online streaming service Netflix is to spend up to US$300 million (€223 million) on original content as it ramps up competition with premium broadcasters including HBO. Netflix CEO Reed Hastings told the annual UBS Media and Communications conference in New York that it would ramp up original production following the commission of series including David […]