In spite all the jokes about Nextflix being dead or “murdered” by Red Box, it seems like the company, just like the Phoenix, re-emerged from the ashes as subscribers watched more than 1 billion hours of online video last month as the advent of high-speed Internet connections and high-powered mobile devices change people’s viewing habits.
From ridicule to riches, Netflix saw a single day increase of over 11 percent on its battered stock. This is the highest price the stock has seen in over seven weeks. Now, don’t get me wrong, it isn’t the $306 per share price the company could boast in July, but it is definitely improving and giving investors some confidence in the company.
But would you prefer to watch a movie in the old fashion DVD format or to watch it from your mobile device? I guess that is the question many if us are asking, and although the company just reached such a milestone on viewed hours, there are so many viewers who believe the decline of the Netflix empire wasn’t because people don’t watch DVD formats anymore but instead due to the lack of good titles and options the company had compared to red box.