The concept of driving to the video rental store is nearly dead now that movies can be rented via On Demand, Hulu, and iTunes, then streamed on laptops, iPads, and game consoles. The way consumers watch TV is changing, and Netflix knows it. The company boasts 16 million members in the US and Canada, and gained nearly 3 million of them in 2009, when the economy hit bottom.
In November, Netflix announced a 100 percent streaming subscription plan that costs $7.99 a month. The plan, a direct response to evolving consumer preferences, gives members unlimited, instant movies and TV episodes. A similar service introduced in Canada this September surpassed the company’s expectations. The company attributes its success to convenient subscription models and a broad library of DVD and TV titles.
