Media and Money

Posts Tagged ‘internet

According to the Associated Press, Comcast Corp., the nation’s biggest cable TV systems operator, posted a 53 percent increase in second-quarter profit, helped by higher prices and increased customer spending on video and Internet services. But subscriber growth markedly slowed as the recession’s grip remained tight.

Comcast said it hasn’t seen much sign of an economic rebound, although July fared better than the second quarter. Local advertising remains depressed.

The quarter’s subscriber growth was dampened by the housing slump, jobless rate and competition, as well as a seasonal slowdown due to college students and senior citizen ‘snowbirds’ disconnecting for the summer.
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Redbox1With more subscribers choosing DVD-by-mail service, Netflix Inc. is one of the few companies to prosper during the worst U.S. recession in 70 years. However, Netflix CEO Reed Hastings still has something to worry about: an even cheaper DVD rental service run by one of his former lieutenants.

Redbox has emerged as the largest operator of DVD-rental kiosks, with more than 15,400 vending machines set up to dispense $1-per-day discs in supermarkets and discount stores.

I remember when I first saw a Redbox machine outside of a McDonald’s. I thought, “boy, these guys will put anything, anywhere just to get a quick buck.” This is exactly what Redbox had in mind.

According to AP reports
, Redbox opens an average of one kiosk per hour to lure budget-conscious consumers, Hastings is concerned that this upstart might upstage Netflix, whose cheapest mail-order plan costs $5 for two movie rentals in a month.
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