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"Disgusted that a video rental store raked him over the coals for returning a movie late, Reed Hastings created Netflix. Seventeen million subscribers later, some people probably wish a clerk would have just refunded the man his 40 bucks.
Topping the list would be about 12,000 who have lost jobs at Blockbuster during the past couple of years as Netflix and its subscription DVD business have run circles around stodgy bricks-and-mortar storefronts. Next in line are pay TV executives, who wonder whether Netflix’s streaming business will encourage consumers to cancel expensive cable and satellite services.
But its relationship with the rest of the entertainment ecosystem is becoming much more complicated. Everyone wants to be in business with them but no one fully trusts its motives. Meanwhile, Hastings has proclaimed that Netflix considers itself more a streaming company than a DVD concern — with an estimated 17,000 (and counting) movie and TV titles available — and electronics manufacturers are rushing to build Netflix buttons into remote controls. Hollywood has learned from the way Apple blindsided the music industry with iTunes and knows how much is at stake." Read More
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