LoveFilm, Netflix like Service, Announces 2 Million Subscribers
The DVD rental and streaming movie space is becoming very competitive, and Netflix, as the number one player, looks to be under intense pressure. The company had its long awaited UK launch recently,. But no sooner than it could say “all systems go”, its nearest rival, Amazon’s LoveFilm streaming service dropped a bombshell.
According to the Amazon release, LoveFilm has surpassed the 2 million member subscriber mark. On top of that, LoveFilm is going head to head with Netflix, choosing to launch its introductory offer at $4.99 a month. Netflix’s UK offer is $5.99 a month, and many are watching its presence to see how the undercutting by LoveFilm will impact its numbers.
LoveFilm has seen a surge in numbers since it launched its ‘LoveFilm Instant’ package which allows users to stream movies and TV shows instantly. Many of the now 2 million subscribers were added over the last quarter of 2011. The consensus among experts is that Netflix will need to work hard to keep LoveFlim at bay, especially now that it will have the full financial and marketing support of Amazon.
Film lovers won’t complain about the competition though, because when the price wars start, they’ll benefit. It will be sometime too before LoveFilm is able to compete effectively against the giant that is Netflix.
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