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Old 07-24-07, 08:28 PM   #1
1337_Like_ThaT
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Default Netflix reports first drop in subscriptions

Coincidence this may have happened shortly after Blockbuster announced its siding with Blu Ray?

http://www.reuters.com/article/ousiv...37505820070724

Quote:
Netflix Inc., the largest online DVD rental company, on Monday reported its first-ever quarterly drop in subscriptions and cut forecasts for subscribers, revenue and profit for the year in the face of fierce competition from Blockbuster Inc.
...........
Chief Financial Officer Barry McCarthy told analysts on a conference call that Wall Street estimates for fiscal 2008 earnings growth were "excessively optimistic."
...........
Netflix has spent the last six months fending off a rising challenge from Blockbuster, which said it will spend $170 million this year to promote its Total Access plan. That allows subscribers to swap DVDs rented online at its stores for free and has become a powerful competitor to Netflix.
Quote:
Originally Posted by superklye
Blockbuster is still around?
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