Entertainment
14 February 2000
Link copied to clipboardProgram Enables Consumers To Go "Movie Crazy" By Also Eliminating Late Fees And Due Dates
LOS GATOS, CA (February 14, 2000) – Continuing to transform the home entertainment landscape, Internet movie rental market leader, NetFlix (www.netflix.com), today announced the launch of its Unlimited Movie Rental service for an affordable monthly fee of $19.95. The new service enables subscribers to rent any number of DVD movies per month without incurring per-movie rental charges, shipping charges, or late fees. Customers can keep movies as long as they want. To introduce the service, NetFlix is inviting consumers to test the program for a free one-month trial period.
"Imagine watching whatever DVD movies you want, keeping them for as long as you want, and watching as many as you want, all for a flat fee of $19.95 per month," said NetFlix CEO Reed Hastings. "We have a vast library of nearly 1,000,000 DVD movies that members get unlimited access to – from the hottest hits to foreign art films. With so many great films available on DVD, this program enables us to provide our customers with an extraordinary movie rental experience."
"Similar to AOL's transformation of the Internet with its unlimited access plan for a flat fee, NetFlix is changing the rules of the movie rental market," added Hastings.
Six months ago, NetFlix took the first step by eliminating all due dates and late fees with the introduction of its first Marquee program. The result was a 300% growth in six months to a volume of more than 100,000 rentals per week. By also eliminating all per-movie charges, late fees and all shipping charges, NetFlix is delivering the most exciting movie service available – online or offline.
In addition to the unlimited movie rental program, NetFlix provides highly personalized movie recommendations based on comparing an Individual's movie likes and dislikes with those of other like-minded NetFlix visitors. NetFlix's Cinematch is particularly powerful because it personally guides visitors through the site's vast number of movie choices making recommendations specific to each individual's movie taste.
Unlimited Movie Rental Program Details
Rental Terms: There are no due dates or late fees on movie rentals. Members may rent an unlimited number of DVD movies per month and can have up to four movies checked out at any one time. The program monthly fee is $19.95 and may be canceled at any time.
Shipping: All shipping is free in both directions.
New Members: New members can enroll by visiting NetFlix (www.netflix.com). Free trials are available, see
www.netflix.com for details.
Pre-existing Marquee Members: Existing members will receive a complementary upgrade to unlimited movie rental so they can experience the program at no additional cost. About NetFlix
NetFlix is a personalized movie portal where people go to find the movies they would most love. Unique to NetFlix is Cinematch — a technology which compares an Individual's movie tastes with those of other like-minded NetFlix visitors and makes highly personalized recommendations. NetFlix currently specializes in DVD movies and offers a revolutionary Unlimited Movie Rental program for $19.95 per month. NetFlix has raised over $50m in venture capital, ships over 100,000 movies per week, and has partnerships with the leading DVD player manufacturers including Sony, Toshiba, Panasonic, RCA/Thomson, and others.