Netflix nabs Epix deal
Netflix subscribers will soon be able to instantly stream new releases and library titles from Epix. Starting Sept. 1, movies will begin streaming from Netflix, including titles from Paramount, Lionsgate and MGM.
According to Ted Sarandos, chief content officer for Netflix, the company is the exclusive Internet-only distributor of Epix content.
Epix has subscription pay-TV rights to new releases and movies from the libraries of its partners and will make these movies available to Netflix 90 days after their premium pay-TV and subscription on-demand debuts.
Netflix is on a mission to grow its library of movies and TV shows that can be watched instantly on TVs via a range of consumer electronic devices. And subscribers are increasingly using Netflix's Internet streaming library. About 61 percent of Netflix subscribers streamed at least 15 minutes of video in the latest quarter, compared with just 37 percent a year ago.
Mark Greenberg, president of Epix, said: "We are pleased to be able to continue our mission of bringing consumers the movies where they want to watch them, while satisfying the differing needs of cable, telco and satellite operators. This deal also underscores the tremendous value of our offerings in the marketplace."
Netflix's second-quarter performance got panned by investors in July for bringing in less revenue than expected, even though the movie subscription service added a million more customers to produce another earnings extravaganza.
Netflix ended June with 15 million subscribers, up from 14 million in March and 10.6 million a year ago. It marks the third straight quarter that Netflix has lured in at least 1 million more subscribers, and management expects to do it again in each of the next two quarters.