Technology
Mobile
Internet & Software
Events
More
Bitcoin News Internet & Software Tech News

Netflix to be the next big company to accept Bitcoin

First Overstock and then TigerDirect, more online companies seem to accept Bitcoins as an official payment method and all though there are still many big companies that haven’t, streaming website Netflix with over 40 million subscribers is planning on starting accepting Bitcoins as payment method for its monthly subscription fee.

The information was leaked by Max Keiser who previously announced that Zynga will start accepting Bitcoins, which turned out to be accurate.

 

It is not only great that Netflix will start accepting Bitcoins, but it could also drastically change the revenue model it currently has. Since bitcoins can be divided into smaller BTC and have no transaction costs, they could start charging users for “pay per view”. If watching a movie costs $0.02 or 0.000021BTC you will only be charged if you watch the entire episode and make the transaction in a matter of seconds. The combination of fast and cost-free transactions that could make this revenue model work for Netflix.



Source : Twitter

If you enjoyed this post, please consider leaving a comment and share your opinion, subscribing to our RSS feed or Subscribe to our Weekly newsletter to receive a weekly email with this week's most important news updates, delivered right to your Mail Box.

nielsbosch

About the author nielsbosch

Hello, my name is Niels Bosch and i am the founder of AmongTech. Currently living in the South of Spain. My main interests are web development, playing video games once in a while, Apple, Marketing and SEO. I am currently studying Business administration, Ne Read More

Tags:

  • http://unicornuproar.com/ Moscato-Moe

    I really don’t think they want to do pay per view

    • bluelightzero

      Then you can pay monthly with bitcoin

  • Joey Schmoey

    They will accept bitcoin if they know what is good for them.

  • coinosphere

    I think they should try a pay-per-minute model… So if a movie costs $1.00 to watch, then perhaps they give you the first 10 minutes for free and the rest of the 90-minute movie costs $0.0125 accrued minutely, and charged when the watching session is finished.

    • http://www.amongtech.com/ Niels Bosch

      It is really up to them to decide this, the problem with that is that usually the tax you have to pay is higher then the actual cost of watching a movie, this very big issue is now solved if they decide to use Bitcoins as payment method

  • http://fixcomputerfree.blog.com/2013/06/15/how-to-update-your-logitech-drivers/ Fix Computer Free

    I think pay-per-view might actually work. Especially for people who stream, but don’t only stream, or stream little to moderately. I think for people who are only on the streaming plan or who stream a lot, paying monthly with a CC may still be more cost effective.