Netflix exiting indie movie distribution
July 23, 2008
From Yahoo:
In a move that could have a big impact on indie film sales and distribution, online film rental service Netflix is shuttering its film financing and acquisition arm Red Envelope Entertainment.
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Since it was founded two years ago, Red Envelope invested in more than 100 films and partnered on key acquisitions for small distributors. Some of its acquisitions include the war documentary “No End in Sight” with Magnolia Pictures, and the romantic comedy “Two Days in Paris” with Samuel Goldwyn Pictures.
Netflix sees DVD-by-mail to peak soon
May 28, 2008
Reed Hastings, chief executive of Netflix Inc, said he expects the company to have 10 million subscribers by next year, but the DVD-by-mail business will peak in as soon as five years.
“We think the by-mail business is very strong but will probably peak in the next five years,” said Hastings at the Netflix Investor Day in San Francisco on Wednesday. A slide at the presentation showed the peak in five to 10 years.
“Our key challenge is growing earnings per share and subscribers while funding streaming (online video) which should give us years of subscriber and earnings expansion,” he told analysts.
Hastings told investors that the company’s online investment in 2008 and 2009 is expected to be “fairly inefficient,” but noted the reason for higher spending was to cultivate better partnerships and content.
From here
He cited as risks the growing popularity of stand-alone DVD rental kiosks, improving video-on-demand services from cable and satellite companies and more competition in streaming from Web giants like Amazon.com Inc and Apple Inc and the potential of renewed promotional spending by Blockbuster Inc in the by-mail sector.
Miramax, NetFlix team up for a ‘Reprise’
May 4, 2008
Miramax Films and Netflix’s Red Envelope Entertainment have nabbed U.S. rights to executive producer Scott Rudin’s drama “Reprise.”
Red Envelope also joined Samuel Goldwyn Films and Sony Pictures Worldwide Acquisitions Group this week to acquire U.S. rights to Lakeshore Entertainment’s drama “Elegy,” starring Penelope Cruz and Ben Kingsley.
Joachim Trier’s “Reprise” centers on the longtime friendship between two young, aspiring novelists (Anders Danielsen and Espen Klouman Hoiner) and the many dramatic twists and turns in their lives. The film won the Discovery Award at the 2006 Toronto International Film Festival.
- From THR
Netflix & Blu-Ray In Hot Lesbo Action
February 11, 2008
