The chief financial officer of Netflix has played down suggestions the future of video rentals is in hi-def, after he said Blu-ray will have little effect on the company's business this year.
Speaking to Home Media magazine, CFO Barry McCarthy explained that for 2008 the format won't really bring in money, stating that "It may grow after the holiday selling season, if sales are slow and prices are cut more aggressively."
The company also recently revealed, according to the magazine, the percentage of people renting HD discs was in single figures.
Price rise
The comments come after news Netflix is to make its membership more expensive to make way for unlimited rental of Blu-ray discs. The price of a monthly membership is being upped by $1 dollar (60p).
This will happen 5 November. Those who do not want to rent hi-def titles must adjust their membership via Netflix's website.
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dohnut
October 10th 2008
1. Are netflix ever going to come to the u.k, I have an xbox and nect month you can stream all/most of there movies via xbox live if you have a netflix account. Would be nice if lovefilm or blockbuster did this. Oh I forgot to say it is free with netflix to stream movies unlike lovefilm and blockbuster.
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