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Netflix: Amazon.com May Enter Online DVD Rental Market

Authored by Mark Hefflinger on October 15, 2004 - 9:54am.
Los Gatos, Calif. -- Shares of online DVD rental service Netflix plunged over 40% on Friday after the company said it learned that online retail giant Amazon.com may be planning to enter the market for online DVD rentals. "Our customers have been encouraging us to offer low-price, online DVD rentals, but we have no announcement to make at this time," Amazon spokeswoman Patty Smith told Reuters. Both Blockbuster and Wal-Mart have launched online DVD rental services as well. Los Gatos, Calif.-based Netflix said it plans to discount its subscription price from $22 to $18 a month in anticipation of looming competition; the company earlier this year raised subscriptions from $20 to $22. Netflix currently counts over 2.2 million subscribers.
http://biz.yahoo.com/prnews/041014/sfth002_1.html
http://biz.yahoo.com/ap/041015/netflix_sector_1.html
http://biz.yahoo.com/ap/041014/earns_netflix_3.html 
http://www.netflix.com 

tags: Netflix | Amazon.com | Online DVD Rental |

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