- 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."
Read the whole story at CNet »