WallSt.Net Wrong on Netflix

by Davis Freeberg

WallSt.net issued a press release this morning touting an exclusive interview with Steve Swasey, the director of corporate communications for Netflix. The title of the press release was “TLPE, NFLX and CYPD update the investment community in All-New Interviews with WallSt.net.” After reading through the article though, I think it’s WallSt.Net that needs to be updated on Netflix.

“This comes on the coattails of advancing technology. Netflix makes use of a proprietary network that enables the Company to keep processing time to a minimum, and an unprecedented degree of flexibility to expand its offerings.

Case in point: the Company’s plans to unveil a movie download service in the near future. This would allow consumers to enjoy the immediacy that a physical movie rental location provides, but the convenience of home delivery—which would take a swing at cable providers’ Movies on Demand services.”

I’m not sure how WallSt.Net would define “near future”, but Hastings comments during their conference call over a week ago would suggest that WallSt.Net may have missed the boat with this article. As a new publication, WallSt.Net is trying to create a splash for themselves, but my advice would be to actually listen to the conference calls of the companies that they plan to report on and to avoid issuing fluff “investment updates” unless there is really new news to talk about.

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