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Hollywood Execs More Scared Than Ever of Netflix

CNET media correspondent Greg Sandoval takes the current temperature of Hollywood vis-a-vis unstoppable behemoth Netflix, and shares some interesting tidbits.

Based on the reporter’s latest conversations, Tinseltown remains stunned by the rapid growth of Netflix Streaming, with former supporters now weary of what it means to the traditional bottom line. Per Sandoval, the instant-watch aspects of Netflix are chipping away at the media conglomerate empire in all sorts of different ways:

Netflix siphons off sales in other important areas, such as from the airlines. Since more airlines are offering in-flight Internet access, a Netflix account means fewer people may be tempted to purchase movies offered by the carrier.

Another interesting wrinkle is that films offered through Netflix Streaming lose their residual value quickly in other areas, scaring off cable and TV buyers. But perhaps the scariest stat in the whole article is this: Netflix is currently available “on more than 200 Internet-enabled devices and platforms.”

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