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Netflix Profits in Recession

Posted by: Jonathan M, 12:36 AEDT, Wed January 28, 2009

Targeting consumers who are too broke to go to the movies, Netflix banks on people staying at home to watch streaming movies

Netflix's "Watch Instantly" programming took of on a slow start but, thanks to the recession and people staying at home, its dang near doubled the profit for Netflix.

The current catalog of movies that are "Watch Instantly" compatible is slim but, Netflix promises to invest more money with studios to get more content by years end.