Two Ways: Netflix Sings the Blu-Rays
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According to Bloomberg, the increases will only be applied to Blu-Ray rentals and will take effect on or after April 27th. Currently, Netflix subscribers must pay an additional $1 a month on top of the membership fee to gain access to Netflix's 1,300 titles in Blu-Ray format.
Netflix said nearly 10% of its customers are switching over to Blu-Ray, and the company is attempting to capitalize on this trend also by increasing the number of its offerings; those numbers are up 60% in just the last six months. In an interview, Netflix CEO Reed Hastings said, "If Blue-Ray gets to 100% of US homes like DVD did, then consumers will be watching disc-based entertainment for at least another 20 years."
NFLX closed the session +6% to $42.03.
From the Bull Pen: Professor Smita Sadana posted a timely Buzz on Netflix this morning, just before the news was released. But this stock might have more room to run. For those that were long the stock today, one option can be to take half of the position off and play the rest with the houses money.
From the Bear Cave: Bears can look to Sony (SNE) for a downside play. A buy stop can be set 2% above entry.
Must be the Mondaaays! Have a goodnight, Minyans!
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