Netflix Wins TV Series Bid

Recently Amazon announced that they would be going into online movie rentals. As a result, they become a direct competitor for Netflix, Inc. (NASDAQ:NFLX). Netflix is known for their cost efficient unlimited movie and video rentals however Amazon managed to make their service cheaper. Amazon announced that they would be offering their premium members a low cost annual membership which will give them access to rent movies and stream them directly onto their computers and television. Netflix has a similar service however their cost is significantly more than that of Amazon.com. The two companies have been battling it out since the announcement was made, but as Netflix has a larger library, they have been able to hold onto their customers. In addition to movies and television shows, the company also provides their customers with video game rentals among other digital items. Netflix has taken into account their customers requirements and as a result, they have been able to increase the range of services they currently provide. They were the first company to start online rentals, which are delivered directly to ones door. Even mega rental companies including Blockbuster noticed how well Netflix was doing and they too decided to improve their service. However it seems like Blockbuster started a little too late and Netflix ended up gaining their customer base. Blockbuster recently filed for bankruptcy and soon after announced that they were in search for the highest bidder to sell the company to.

Ever since Amazon.com announcement, Netflix has been searching for other ways to diversify the company and it seems that they have finally found a way to do so. The company has just announced that they have won a two year $100 million dollar bid to develop a new original series. The series will star some of the most well known actors in Hollywood including Kevin Spacey, who is also the executive producer of the show. Netflix beat out well known networks including HBO, in the bidding process. Further information regarding the show has not been released yet, however as it is still in the first stages, it will take some time for the parties involved, to release further news. This will certainly give Netflix the added customer base they have been searching for and the 26 episode show is sure to attract viewers. With a strong storyline the company has finally found a new field to help the company diversify.