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Mitch Lowe: ‘The Business is Changing in Favor of Netflix’

MitchLowe

You may not have heard of Mitch Lowe, but you’ve almost certainly used one of his products. As the co-founder of Netflix and former president of Redbox, Lowe has been instrumental in revitalizing the movie rental industry.

Lowe’s first creation was the Video Droid, an early movie rental machine back in the 80s. He sold it to a Japanese company and started opening video rental stores (back when those were still profitable). After sensing the switch to online content, he and Marc Randolph came up with the idea for Netflix. The rest, as they say, is history.

In the latest installment of Mediabistro’s So What Do You Do?, Lowe spoke about the ever changing world of the video business:

How do you see [Netflix and Redbox] evolving now?

The business is changing in the favor of Netflix. There’s still the segment of the population that’ll own a DVD player for the next three to five years, but it’s shrinking. Also, they’re shrinking the number of hours they’re using a DVD for. It’s mostly because their children are streaming and watching things on their iPads and not renting the disks as much as their parents are. Netflix, on the other hand, is right at the forefront of the streaming and the original content kind of trend. I think Netflix will continue to gain users — and Redbox, if they don’t adjust, will see a dwindling share.

To hear more from Lowe, read: So What Do You Do, Mitch Lowe, Co-Founder of Netflix and CEO of Quarterly.Co?

– Aneya Fernando

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YouTube to Take on Spotify with New Music Streaming Service

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YouTube is reportedly launching a subscription music service to compete with the social music network Spotify. According to Fortune, the video sharing site will likely give listeners the choice of either playing the songs for free, mixed in with advertisements, or paying a fee to hear the songs ad-free. Google will also build a digital locker at Google Play for Android for purchasing and collecting songs.

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Why Amazon and Hulu Can’t Replace Netflix, According to Netflix CEO

Netflix-Logo

Yesterday Netflix CEO Reed Hastings unleashed his quarterly shareholder letter on the web, chock full of facts and figures about the company’s success, growth and initiatives in Q4 2012. But in addition to revealing numbers about Netflix members, profits, and original series, shareholders got to feast their eyes on a special little nugget—a Venn diagram proving that Netflix is irreplaceable by Hulu Plus, Amazon Prime and Redbox Instant—at least in terms of their streaming content offerings.

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Watch Out Netflix: RedBox Instant Streaming Service Is Coming Soon

RedBox Instant

As if there weren’t already enough streaming options out there, between Netflix, Hulu, Amazon Prime, Vudu, HBO Go and even Toys R Us, RedBox has partnered with Verizon to launch a streaming service of their own. Redbox Instant, which has been rumored to be in the works for some time now, is now finally getting underway. This month the service will launch a beta test, with the public launch scheduled for next year.

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New Disney Movies Finally Coming To Netflix…But Not Until 2016

Disney Netflix

Today Netflix and The Walt Disney Company announced a new multi-year licensing agreement. Netflix will be the exclusive U.S. subscription television service for Disney’s first-run live-action and animated features. But there’s just one catch. Looks like Netflix viewers are going to have to wait at least three years, as Yahoo Finance reports that the agreement will begin with Disney’s 2016 theatrically released feature films.

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