Netflix (NFLX) Lower as Major Retailer Begins Testing Streaming Video Service
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Netflix (Nasdaq: NFLX) is lower on the session Tuesday following reports Monday that another rival might be dipping its toes into the streaming pool.
The Minneapolis Star-Tribune said Target (NYSE: TGT) is girding to launch its own Netflix-like service. Testing has been limited to employees, so far. You can check out the beta site here.
Target affirmed testing the service, but further details, like pricing or if the site will even launch, have been absent. Content providers haven't been speculated, either.
Other competitors in the arena include Amazon (Nasdaq: AMZN) Instant Video, Hulu, and Coinstar (Nasdaq: CSTR).
Shares of Netflix are down 1.3 percent.
The Minneapolis Star-Tribune said Target (NYSE: TGT) is girding to launch its own Netflix-like service. Testing has been limited to employees, so far. You can check out the beta site here.
Target affirmed testing the service, but further details, like pricing or if the site will even launch, have been absent. Content providers haven't been speculated, either.
Other competitors in the arena include Amazon (Nasdaq: AMZN) Instant Video, Hulu, and Coinstar (Nasdaq: CSTR).
Shares of Netflix are down 1.3 percent.
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