If you spend at least some of your free time by watching movies, you’ll like the following announcements by Apple and Netflix.
“Apple Inc. CEO Steve Jobs unveiled movie rentals from iTunes…at his Macworld presentation in San Francisco on Tuesday.
Apple (AAPL, Fortune 500) shares fell nearly 7 percent in afternoon trading, signaling shareholder disappointment in the new offerings.
The movie rental announcement was highly anticipated. Jobs said every major movie studio will make its films available at a price of $2.99 each for older films and $3.99 each for new releases. High-definition videos will cost $1 more.
The downloaded rental can be watched for 24 hours after it’s initially launched. Jobs said more than 1,000 films will be available by February.”
Source: CNN.com
Netflix reaction to this news:
“…Netflix will let subscribers watch an unlimited amount of movies and TV shows, with every basic plan. Currently subscribers can watch anywhere from 5 to 48 hours a month, depending on their plan, although I don’t see how anyone could be on the “8 at-a-time” plan (my 2-at-a time plan comes with 14 hours).
The new unlimited plan will be available to all subscribers, except for those on the two rentals per month plan.”
Source: News.com
