Online rentals hits landmark

Online rentals hits landmark
April 1, 2007

Online rentals hits landmark

California-based Netflix Inc., the world’s largest online movie rental service, recently delivered its 1 billionth DVD after seven years of business. The landmark was celebrated with a lifetime subscription going to the recipient of the billionth DVD.

Netflix has accumulated 6.3 million subscribers – three times the amount of Blockbuster, its nearest competitor. Subscriptions have increased six-fold since 2003, and are expected to hit 20 million by 2012, despite the threat of major movie and TV studios favoring on-demand delivery (Internet downloading) over DVD sales and rentals. The company plans to counter this by offering subscribers the chance to watch a selection of movies on PCs with high-speed Internet connections.

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