$BLOAQ NEWS: Blockbuster Is Back From the Doldrums -- Netflix Finally HasCompetition
Sep 27, 2011 08:16:25 (ET)
NEW YORK, NY, Sep 27, 2011 (MARKETWIRE via COMTEX) -- The DVD streaming and mail delivery sector has become far more competitive in the last month. Price hikes and spinoffs at Netflix have set in motion a Netflix customer rebellion that Blockbuster is capitalizing on. The Bedford Report examines the outlook for companies in the Music and Video Stores Industry and provides equity research on Blockbuster, Inc. (pinksheets:BLOAQ) and Netflix, Inc. (NFLX, Trade ). Access to the full company reports can be found at:
www.bedfordreport.com/BLOAQ
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Blockbuster, once the leader in video rentals, had filed for bankruptcy when it couldn't counter the threat posed by Netflix, Inc., whose DVD-by-mail service and subsequent expansion into video streaming revolutionized home entertainment. Blockbuster has since emerged from the doldrums with the aid of Dish Network, and is now becoming a promising comeback story.
Last week Dish Network announced a new product, the Blockbuster Movie Pass, which combines the services offered by the two brands. The pass is a lot like what Netflix offered until this month, as it is a combination of DVDs by mail and video streamed online. The pass also adds in the satellite subscription service for which Dish Network is known, as well as games by mail. Dish calls it "the most comprehensive entertainment package ever."
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Shares of Netflix have been on the downswing since the company announced new subscription plans for its DVD-by-mail and streaming customers. Under the new plan, customers who seek to subscribe for both the DVD-by-mail and streaming services will have to pay $16.00 per month for unlimited access. Previously, Netflix used to charge $10.00 a month for the bundled offering.
Not only Blockbuster, Netflix must also fend off other new competition, including streaming services from Hulu.com and Amazon.com Inc. and $1-per-day DVD rentals from Redbox kiosks.
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