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Renita Jablonski: The titans of the DVD rental market are putting on big shows today. Netflix and Blockbuster are holding investor meetings on opposite coasts, but when you press play, the messages will be similar. Jennifer Collins reports.
Jennifer Collins: Once upon a time, Netflix wooed Wall Street with its charming business model:
Netflix ad: My lady, we are the romance movie from Netflix. We hope our presence will be to your liking . . . There’s a Movie waiting for you at home.
Netflix still leads the movie-by-mail market with 8 million subscribers. Blockbuster holds court over the movie rental business with 20 million customers. Both companies are trying to fend off competition from Apple and Amazon’s growing business in online movies.
Netflix is hosting its Investor Day in San Francisco. The company has warned about flat growth. But it’s trying to stay in the game by unrolling a TV set-top box. It would stream movies off the Internet.
Blockbuster is courting shareholders in New York. Analysts expect Blockbuster to give more details about its bid to buy Circuit City.
I’m Jennifer Collins for Marketplace.