Word: netflixing
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...online service Daly uses, called Netflix, just passed the 500,000-subscriber mark, riding a boom in DVDs and discontentment with the old rental model. Indeed, founder Reed Hastings got the idea for the company when he was hit with a $40 late fee for a copy of Apollo 13 back in 1998. "If I'd returned it on time," he says, "we wouldn't be here today." Now Jupiter Media Metrix rates Netflix.com as one of the 10 busiest e-commerce sites, a list that also includes eBay and Amazon. Every day 82,000 DVDs roll through the conveyor...
Unlike DVD-delivery dotcoms back in the boom time--like Kozmo.com which spent more money sending a guy to your door than it was likely to earn on your order--Netflix uses the lightweight DVDs and the ubiquity of the U.S. mail to full effect. "Putting a DVD into an envelope for 34 [cents] and having it mailed back in the same prepaid envelope is just brilliant," says Jonathan Gaw, research manager for the analyst firm IDC. Though Netflix took a net loss of $38 million on $76 million in revenue in 2001, the young company expects to have...
...demographic that rents the most movies--18- to 35-year-olds with children, like Daly--is also the one most likely to look for them on the Internet. There are about 20 online DVD-rental services, but what makes Netflix by far the most popular is its recommendation system. Rate each movie you rent, and Netflix will match you up with movies you're likely to enjoy that you might never have heard of. This is a boon for independent movies like Nice Guys Sleep Alone--which couldn't get distribution but did get picked up by hbo after...
...company thinks most consumers don't plan their rentals in advance--they do it on impulse, the same way they buy Milk Duds at the register. But that doesn't mean they'll always think that way. "If we can figure out a way to make money doing what Netflix does, we'll do it," says Blockbuster vice president Ed Stead...