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Netflix concept spurred by $40 VHS late fee -- who knew?
We've listened to Netflix founder and CEO Reed Hastings talk business about his company, but how's about a little background? After announcing a momentous Q4 while practically every other outfit on the planet hung their head in shame, the understandably elated exec sat down with Fortune to explain how Netflix came to be. As the story goes, Reed lamented the $40 fee he was nailed with upon returning a VHS copy of Apollo 13 in 1997. Soon after, he began to research the idea of starting a rental-by-mail outfit. Interestingly enough, the subscription based model that nearly 10 million people enjoy today was something that came after the first concept, but obviously he hasn't tried to mess with the magical elixir very much sense. Have a look at the read link for the full writeup.
Netflix's Reed Hastings talks future technologies, streaming
CES 2009 may be a fading memory, but Netflix's founder and chief executive Reed Hastings took time in Vegas to talk about technologies that should be affecting us for years to come. In an interview with The New York Times, Hastings proudly confessed his belief that within two years, "WiFi and Netflix would be built into all televisions." He also speaks at length about how the world wide web is becoming more accessible on the TV, noting that big things could happen if more potent processors and additional memory were stuffed into future HDTVs. Sadly, when asked about why Watch Instantly didn't include brand new releases, Reed simply stated that Netflix "doesn't think of it in title count... it thinks about it in terms of volume and having an even better experience" than is currently offered. Sure, we appreciate improvements in speed / quality / etc., but don't pretend like new releases aren't high (high!) up on the wish list of avid Watch Instantly users.[Image courtesy of Syracuse]
The rumors of Blu-ray's death are greatly exaggerated
Just like clockwork, whenever the world of digital downloads has some big news, many so called technologist start proclaiming the death of physical media; meanwhile, those who actually understand the business can't help but laugh. Those who proclaim the death of Blu-ray will one day feel as silly as those who proclaimed the death of VHS in the 90's because of the birth of VOD, because here we are over ten years later and JVC just now stopped producing stand-alone VHS decks and combo units still sell -- why, is beyond us though. The reality is that little shiny discs aren't going anywhere anytime soon, and because of the similarities between DVD and Blu-ray -- and CDs for that matter -- the possibility of Blu-ray becoming the next LaserDisc isn't likely. This is because unlike LD -- which was a very successful format by Hollywood's measure -- Blu-ray players will soon (12 to 18 months) push DVD players completely out of the market as the prices continue to diminish. While at the same time, most Blu-ray players play DVDs better than DVD players do. But regardless of DVD vs Blu-ray, what these technology pundits really mean is that the age of digital downloads is upon us and that physical media is dead. And while everyone knows that the death of physical media is inevitable, the time frame is really what's in question. We could just as easily make our own predictions, but instead of taking the risk of looking stupid, we'll quote Reed Hastings, the CEO of Netflix, who when asked if all the new streaming services would negatively affect its DVD business, responded with "the typical streaming customer differed from the typical DVD subscriber; so comparing the two wouldn't make sense."
Netflix CEO joins Microsoft board
Netflix CEO Reed Hastings, the man who changed the way America rents movies, has joined the board of directors at Microsoft. There's no further announcement beyond this simple, but possibly monumental, change to the Microsoft board.Microsoft has been getting into video downloads with Xbox Live, but now combine that concept with the brand power and ethos of simplicity behind Netflix, and you've got yourself, well, we don't know ... but it brings us one step closer to an all-in-one box for our television.If Netflix service were incorporated into the Xbox 360, it would change the way we rent movies once again, and be a Halo-level killer app. for the console. As long as the Xbox 360 continues growing its potential, but doesn't lose sight of its gaming core, we'll be fine. We cross our fingers for a Netflix related announcement before 2008. Consumers rejoice, this could lead to good things.
Netflix founder joins Microsoft's board
Get ready to mop the juices fanboy, Microsoft just announced that Reed Hastings, chairman and chief executive of Netflix, will join their 10-member board of directors. So Microsoft -- the people behind the Xbox Live video-download service -- and Netflix -- recently seen pushing into digital delivery of video -- are now officially in cahoots. Of course, we must be careful about reading too much into board-level appointments. After all, no business deals were included in the announcement. But damn if this doesn't sound like a potential win-win for both camps: Microsoft could quickly extend their meager video catalog while Netflix finally lands themselves a living room box. With both facing stiff competition from the likes of Amazon/TiVo, Wal-Mart, and now Apple, it sure smacks of something in-the-works, eh? Oh, and it wouldn't be too bad for us consumers either. [Via Business Journal, Thanks Dave K.]
