Rich Fiscus
22 Jul 2010 2:15
Yesterday Netflix CEO Reed Hastings announced plans to update the streaming video client for the PS3.
The update, which he expects to be available before the company's third quarter earnings are released in October, will eliminate the requirement for a disc. Besides the obvious convenience for customers, this will allow them to continually update the interface as the Netflix Watch Instantly UI is improved.
Netflix continues to grow, largely on the strength of their ever expanding lineup of offerings for streaming to computers, set-top boxes, HDTVs, Blu-ray players, game consoles & other devices.
In the second quarter of 2010 year on year subscriber growth grew to an impressive 42%, which Hastings attributes primarily to the growing popularity of streaming. Although disc shipments continue to increase, they are being replaced by streaming more quickly than Netflix had forecast previously.
Netflix also plans to expand their streaming service into Canada later this year, although they won't be giving much in the way of specifics until closer to the launch date.
Having already conquered traditional brick and mortar movie rental operations in the US, including the Blockbuster and the now defunct Movie Gallery, Netflix appears to be setting their sights on competing with the new subscription service from Hulu.
Hastings says he intends to watch Hulu Plus closely to find more areas to improve the Netflix streaming service. But ultimately he believes the bigger competitive threat are cable and satellite providers.