October 1, 2004: Headlines: COS - Swaziland: Business: Silicon Valley: Computers: Internet: San Mateo County Times: Reed Hastings' Netflix Inc., the largest mail-order video-rental service, and TiVo Inc., which makes digital video recorders, said they will work together to develop a service that offers movies downloaded from the Internet

Peace Corps Online: Directory: Swaziland: Special Report: RPCV Reed Hastings: Reed Hastings: Archived Stories: October 1, 2004: Headlines: COS - Swaziland: Business: Silicon Valley: Computers: Internet: San Mateo County Times: Reed Hastings' Netflix Inc., the largest mail-order video-rental service, and TiVo Inc., which makes digital video recorders, said they will work together to develop a service that offers movies downloaded from the Internet

By Admin1 (admin) (pool-141-157-9-111.balt.east.verizon.net - 141.157.9.111) on Saturday, October 09, 2004 - 12:42 am: Edit Post

Reed Hastings' Netflix Inc., the largest mail-order video-rental service, and TiVo Inc., which makes digital video recorders, said they will work together to develop a service that offers movies downloaded from the Internet

Reed Hastings' Netflix Inc., the largest mail-order video-rental service, and TiVo Inc., which makes digital video recorders, said they will work together to develop a service that offers movies downloaded from the Internet

Reed Hastings' Netflix Inc., the largest mail-order video-rental service, and TiVo Inc., which makes digital video recorders, said they will work together to develop a service that offers movies downloaded from the Internet

Netflix, TiVo joining forces

By Adam Steinhauer, Bloomberg News

Netflix Inc., the largest mail-order video-rental service, and TiVo Inc., which makes digital video recorders, said they will work together to develop a service that offers movies downloaded from the Internet.

Netflix and TiVo said in a statement that they'll develop technology and work with Hollywood studios to gain film titles to offer on the service.

Shares of both companies rose on the appeal that the new service could have to consumers, analysts including Rob Sanderson said. Netflix Chief Executive Reed Hastings said the service may start with limitations, though, including a relatively small selection of movies.

"In no way are we positioning this as a mainstream service ready for prime time next year," Hastings said in an interview.

Los Gatos-based Netflix will start a download service next year, he said, either with TiVo, other partners or by itself, Hastings said. Digital video distribution probably won't have mainstream appeal for five to 10 years, he said.

Netflix shares Thursday rose 73 cents to $16.15 in extended trading at 6:29 p.m. New York time. Earlier, they fell 96 cents to $15.42 in Nasdaq Stock Market composite trading. The stock has fallen 12 percent this year.

TiVo, based in Alviso, rose 42 cents to $7.04 in extended trading at 6:29 p.m. New York time. Earlier, they fell 17 cents to $6.62 in Nasdaq composite trading. TiVo has fallen 11 percent this year.

"The concept is very appealing," said Sanderson, an analyst with American Technology Research in San Francisco. "Electronic distribution of media is something we've been talking about for a decade, and we're kind of on the eve in terms of the technology being there."

Still "it sounds like they've got a lot of work to do" before studios will negotiate to make films available for the service, Sanderson said. Online distribution of movies could cut into revenue from other methods, he said, including DVD sales and broadcasts on cable TV. Sanderson rates TiVo shares "hold" and doesn't own the stock.

TiVo's video recorders store programs on a computer hard drive, instead of cassette tapes. They allow consumers to pause and replay live TV or fast-forward through commercials. TiVo's cheapest models, which store 40 hours of programming, sell for $99.99 each after rebates. The company also charges a monthly subscription fee of $12.95 for a service that helps customers find programs to record.





When this story was posted in October 2004, this was on the front page of PCOL:


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Story Source: San Mateo County Times

This story has been posted in the following forums: : Headlines; COS - Swaziland; Business; Silicon Valley; Computers; Internet

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