- CNet, Friday, August 27, 2010 3:04 PM
juxtaposes news of Blockbuster's reported bankruptcy plans against Netflix's rising star. Indeed, Netflix will likely top 20 million subscribers next year, and last year generated $115 million in net profit on $1.6 billion in revenue. "Since 2008, the once industry-dominant Blockbuster has lost more than a $1 billion and Netflix has thrived," CNet writes.
"Where once Netflix, with its original business model of mailing little red DVD packages to customers, was a sort of a rogue element in the film distribution business, the public company has now won respect in Hollywood." Preparing for the future, Netflix just penned a five-year deal worth nearly $1 billion to stream movies from Paramount, Lionsgate, and MGM. "And," as CNet notes, "digital distribution of movies and TV shows is barely in its infancy."
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