Best Buy has partnered with Roxio in order to launch a new video streaming service that is set to compete in internet video streaming, downloading, and subscription market and Best Buy’s CinemaNow, Best Buy’s answer for Netflix.
There’s big money in internet movie rentals and companies like Netflix, Amazon On Demand Video, and iTunes have a serious hold on the market. In addition to internet streaming subscription programs, companies like Gamefly, Redbox, Blockbuster Express and other movie shipping companies are sucking the life out of companies like Best Buy that sell DVDs at retail prices.
As technology evolves, it’s only a matter of time before walking into a store and buying a packaged DVD is a thing of the past and Best Buy is gearing up for the future with their CinemaNow internet movie streaming service. CinemaNow boasts over 14,000 feature-length films, music concerts, TV shows, video shorts, and more that can be bought and rented via the CinemaNow digital video distribution website and can be viewed on a television or via a computer.
Best Buy claims that they don’t expect interned movie distribution sites to start hurting retail DVD sales for the next years and they are looking forward to making CinemaNow a service that will still make them relevant when buying DVDs start to become a thing of the past. Best Buy is giving their CinemaNow service a jumpstart by bundling free CinemaNow cards with certain Best Buy services and products and offering new movie releases on the CinemaNow video streaming site before they are released in most retail stores.
The fate of CinemaNow is uncertain due to Netflix’s stronghold on the movie and TV show streaming and downloading subscription market and the emergence of more services like Redbox, but Best Buy is giving their CinemaNow service a valid effort. In order for CinemaNow to compete on the same market as Netflix, they’ll have to overthrow Netflix as the premier movie and TV show streaming membership on popular video game consoles, smart phones, and in other popular retail stores.
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