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One thing you can say about Netflix Inc. (NASDAQ: NFLX), the DVD rental pioneer doesn't stand still. It has been innovating for years in bringing video content to consumers over as many mediums as it can. DVDs and Blu-ray discs are still the staple of its business, but Netflix can now be found embedded in newer Blu-ray disc players and even TVs.
No more waiting for discs to show up -- it can stream thousands of movies instantly to that living room flat screen television. So, it stands to reason that a house brand of leading consumer electronics retailer Best Buy Inc. (NYSE: BBY) will now come with Netflix technology built-in.
Best Buy's Insignia brand will now include two Blu-ray disc players with Netflix's instant streaming included on the players themselves. No matter if you prefer to rent Blu-ray discs from Netflix and wait a day or two for them or stream selected movie titles directly, the movie rental company has you covered. It's this kind of forward thinking that has made CEO Reed Hastings enemy number one in the corner offices at Blockbuster Inc. (NYSE: BBI). Again, a new kid has outdistanced an old kid in the entertainment business.
With Best Buy carrying the bulk of consumer electronics sales (for now) in the U.S., the more disc players on its shelves with built-in Netflix technology, the better. Netflix customers, of course, must subscribe to a minimum $9 monthly plan to get that instant streaming capability, but that's a small price to play for the breadth of programming available.
Netflix's Reed Hastings, in announcing the partnership, stated "Best Buy is a terrific place to shop for TVs, Blu-ray disc players, computers and other technology products that entertain and suit the lifestyle needs of millions of consumers ... we're proud to see Insignia models that instantly stream movies from Netflix on Best Buy shelves. Or, better yet, seeing customers buy them off the shelves."
Spoken like a true salesman, and an innovative one at that.
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