Thursday, December 23, 2004

Yahoo! News - Netflix Will Not Match Blockbuster Price Cut

Yahoo! News - Netflix Will Not Match Blockbuster Price Cut: "Netflix Inc will not cut its price for online DVD rentals to match lower fees set on Wednesday by rival Blockbuster Inc. in an escalating battle for online subscribers, Netflix Chief Executive Reed Hastings said.
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Hastings told Reuters Blockbuster's move shows it recognizes online rentals may make its huge network of retail stores obsolete.
"In my view, Blockbuster just killed the video store by offering $15 pricing for online, but maintaining $25 a month for store-based subscriptions," Hastings said. "They are telling their customers to go online.""
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