Bitcoin Board
Ealier this year, we reported that online streaming site Netflix was getting ready to start accepting Payments for their services. Last week Netflix reported its Q1 2014 earnings. They beat the Wall Street estimates by a fair amount, and announced a price increase for new members of 1 to 2 dollars per month. This price raise was introduced to offer more exclusive series.
They also reported that they were expanding more globally, and specifically into the European market. With this new price, and new marketing movements also opens the opportunity to introduce a new payment processor. A few months ago we showed a few ways how Bitcoin can change Netflix’s revenue model.
Netflix could efficiently increase users by accepting the currency which has a huge userbase, and is the fastest growing currency in the whole world. Overstock.com reported a 9% revenue increase in Q1 of 2014, because of Bitcoin. A 9% revenue increase in 3 months is not a bad deal, considering that integrating Bitcoin would cost next to nothing.
Accepting Bitcoin as a payment method also gives more people access to Netflix. I know plenty of people who would love to signup with Netflix but simply don’t have or want a Credit Card. This is not limited to people who are under eighteen, but also people in 3rd world country’s who don’t have access to credit cards.
If Netflix was ever serious about accepting Bitcoin, we think that now is the right time to do so. What do you think?
