Netflix: Blu-ray has had little effect on business

Just as it raises its price to incorporate unlimited HD rentals

Blu ray not setting Netflix s world on fire

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.