Netflix Strike $1 Billion Deal With Epix To Stream Hit Movies
- Dont know who Epix are? You soon will
Netflix the DVD by mail company have been moving more and more into online streaming. And to further its online aims has closed a deal with Epix, a pay TV startup which will make online movies finally come of age.
The deal which includes movies from major Hollywood studios – Paramount Pictures, MGM and Lions Gate (who own Epix), shows that Hollywood is now taking online movies seriously. The deal means that Netflix can now supply the latest movies as oppossed to its current older catalogue to their 15m subscribers in the US around three months after being shown on Pay TV.
Epix are a premium movie channel from Lionsgate, MGM, and Paramount which can currently only be viewed on cable and, if you happen to be a Verizon FiOS subscriber, on the internet.
Online streaming becoming the preferred choice for viewers
The deal reported to be costing Netflix $1 billion over a five year period shows that online movies are now accepted by the public being delivered online. “What’s exciting here is it really reaffirms that the Internet is a serious delivery channel,” said analyst Colin Dixon, a senior partner for the research firm the Diffusion Group. Netflix has really been the catalyzing force on the market and it has illustrated very graphically that consumers are very comfortable consuming quality content directly from the Internet and in some respects, it’s their preferred medium.”
For Netflic, Ted Sarandos said:- “Adding Epix to our growing library of streaming content … marks the continued emergence of Netflix as a leader in entertainment delivered over the web.”
Netflix has seen amazing growth after beginning video streaming in 2007 with a selection of older movies. However the new deal will give them access to around 46% of new movies from Hollywood. The deal shows how committed to online distribution Netflix is becomming.
In the past year, 61%of the company’s 15 million subscribers have rented a movie or TV show streamed over the Internet. Online viewing increased 37 percent from the previous year. The Netflix service is also available across a selection of hardware, mobile devices and set-top boxes.
The deal is likely to stir up a hornets nest with existing pay to view channels who will see shrinking subscribers and revenue further dented by a streaming rival.
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