Netflix reaches 500,000 Blu-ray subscribers

HD makes small contribution to Netflix's 8.7 million user base

Netflix slowly gaining Blu ray watchers

US DVD rental company Netflix has posted some promising stats about its hi-def subscription base.

The company has announced that the number of its subscribers using Blu-ray has reached 500,000 in the current quarter.

Chief Executive Officer Reed Hastings spoke with journalists about the current number and is confident that Netflix's Blu-ray user base will increase even more soon, saying: "We're optimistic that prices of Blu-ray players are falling."

Double blow

This is good news for the format from a company who recently dealt Blu-ray a double blow, by admitting that Blu-ray will have little effect on business this year and it is to raise the cost of a subscription by $1 to incorporate HD releases.

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This change to the price of subscribing is to take place 5 November.