The Netflix deal with Paramount, MGM and Lionsgate is official: EPIX and Netflix Announce Exclusive Internet-Only Deal to Instantly Stream EPIX Movies to Netflix Members. That means that Netflix can start to show movies online starting September 1.
It is estimated that Netflix will pay about $1 billion during the next five years for the online streaming in licensing fees. Analysts expect that this deal will help Netflix to continue to grow fast and increase it already huge subscriber base of about 15 million.
Based on this deal, Netflix will get the movies 90 days after their debuts on premium pay TV from EPIX. In the past pay TV bought the right for up to nine years in advance. For Netflix this definetely means more business and for EPIX it means that the partnership will be profitable from the get go. EPIX is a joint venture between Viacom Inc. [NYSE: VIA and VIA.B], its Paramount Pictures unit, Metro-Goldwyn-Mayer Studios Inc. (MGM) and Lionsgate [NYSE: LGF].
"Adding EPIX to our growing library of streaming content, as the exclusive Internet-only distributor of this great content, marks the continued emergence of Netflix as a leader in entertainment delivered over the Web,” said Ted Sarandos, chief content officer for Netflix. "The EPIX deal is an example of the innovative ways in which we’re partnering with major content providers to broaden the scope and freshness of choices available to our members to watch instantly over the Internet.”
Mark Greenberg, president of EPIX, added: “Netflix is an incredibly popular service and we welcome them as our newest distribution partner. We are pleased to be able to continue our mission of bringing consumers the movies where they want to watch them, while satisfying the differing needs of cable, telco and satellite operators. This deal also underscores the tremendous value of our offerings in the marketplace.”
With more than 15 million members, Netflix, Inc. (Nasdaq: NFLX) is the world’s largest subscription service streaming movies and TV episodes over the Internet and sending DVDs by mail. For $8.99 a month, Netflix members can instantly watch unlimited TV episodes and movies streamed to their TVs and computers and can receive unlimited DVDs delivered quickly to their homes. In February 2010, the American Customer Satisfaction Index named Netflix the number one ecommerce company for customer satisfaction. Netflix has been named the number one retail Web site for customer satisfaction in 10 out of 11 surveys since 2005 by ForeSee Results. In the fall of 2005, Fast Company named Netflix the winner of its annual Customers First Award. In January 2007, Netflix was named the Retail Innovator of the Year by the National Retail Federation. In December 2007, Netflix was ranked the number one online retailer by Nielsen Online. In December 2008, TIME magazine named the Netflix Player by Roku one of the top 10 gadgets of the year.
Netflix has revolutionized the way people rent movies - by bringing the movies directly to them. With today's busy lifestyles and consumers demanding more value and control, it's no wonder that Netflix has become the preferred online provider of the home entertainment experience.
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