Thursday, April 22, 2010

Netflix on Wii, XBOX and PS3 a Huge Success for Company.

Offering its services on connected video game consoles has "meaningfully" boosted video rental service Netflix's subscriber base, says Wedbush analyst Michael Pachter.
That will ultimately mean around 3 million new subscribers from all three consoles in 2010, the analyst concludes, and then 900,000-1.2 million new subscribers thereafter.

Pachter says Netflix CDs for Wii owners, the last to receive access to the service via console, began shipping last Monday. "In our opinion, Netflix on the Wii will not be as popular as it is on the Xbox 360 and the PS3 for two main reasons: the lack of HD on the Wii, and the limited number of Wii users connected to the Internet," he says.

In contrast, Netflix's new iPad app is one of the most-downloaded apps, says Pachter, however "this popularity may not translate into a meaningful number of new subscribers, as we expect that a large portion of the the iPad’s tech-savvy clientele already have a Netflix subscription."

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