High-def movies via cable and satellite, from News Corp.
News Corp. is betting that people will pay $25-$30 to watch Fox films at home in high-definition quality via cable and satellite TV 60 days after their theatrical release.
Speaking during the second day of the annual Bear Stearns Media Conference in Palm Beach, Fla., in a session available via webcast, News Corp. president and chief operating officer Peter Chernin said Tuesday the conglomerate has been "talking to the cable operators and satellite operators about the idea of a 60-day, high-priced high-def rental" offer costing $25-$30.
And proving that Netflix has now become an establishment player, dismissive of any other technology that might ever threaten it...
Netflix CEO Reed Hastings, also speaking at the conference, dismissed video-on-demand and Internet download services as worthy competitors, in part because of the limited selection of movies they offer.
He said Netflix, which pioneered the DVD-by-mail subscription model, will enjoy growth of 50% year-over-year for the next five years, beginning this year with projected earnings of $30 million-$35 million.