Netflix (NFLX) Sees Pressure as Billionaire Slim Takes Aim, Streaming Redbox to Launch
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Does the good news for Netflix (Nasdaq: NFLX) ever stop coming in?
According to reports from the Financial Times (FT) out Friday, billionaire Carlos Slim is looking to challenge Netflix in Mexico via a new streaming content service via América Móvil (NYSE: AMX), called Clarovideo. The service will run about $5 per month, or just 66 percent of Netflix's cost.
Netflix has been held back from further development in Mexico due to lack of a dedicated broadband network. However, Slims's América Móvil runs one of the largest broadband services in the country and has also been making a move into 4G service in Mexico's capital and surrounding provinces.
Additionally, news from CNET this morning has Counstar (Nasdaq: CSTR) aiming to launch its own streaming service in December. The service, which may be available as soon as December 17th, is called Redbox Instant and may cost as low as $6 per month. RedBox Instant is from the previously announced joint venture between Coinstar and Verizon (NYSE: VZ).
Coinstar and Verizon have been mum on details, only saying that the service would debut in the second half of 2012. Redbox Instant is expected to be available on a variety of devices, like tablets, PCs, and smartphones.
The $6 per month will give users unlimited streaming access, while an $8 per month subscription will put credits toward users' DVD rentals.
Netflix shares are indicated lower Friday morning.
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According to reports from the Financial Times (FT) out Friday, billionaire Carlos Slim is looking to challenge Netflix in Mexico via a new streaming content service via América Móvil (NYSE: AMX), called Clarovideo. The service will run about $5 per month, or just 66 percent of Netflix's cost.
Netflix has been held back from further development in Mexico due to lack of a dedicated broadband network. However, Slims's América Móvil runs one of the largest broadband services in the country and has also been making a move into 4G service in Mexico's capital and surrounding provinces.
Additionally, news from CNET this morning has Counstar (Nasdaq: CSTR) aiming to launch its own streaming service in December. The service, which may be available as soon as December 17th, is called Redbox Instant and may cost as low as $6 per month. RedBox Instant is from the previously announced joint venture between Coinstar and Verizon (NYSE: VZ).
Coinstar and Verizon have been mum on details, only saying that the service would debut in the second half of 2012. Redbox Instant is expected to be available on a variety of devices, like tablets, PCs, and smartphones.
The $6 per month will give users unlimited streaming access, while an $8 per month subscription will put credits toward users' DVD rentals.
Netflix shares are indicated lower Friday morning.
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