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. You can buy bitcoin with a debit card too.
The information was leaked by Max Keiser who previously announced that Zynga will start accepting Bitcoins, which turned out to be accurate.
I broke story that Zynga will take BTC several months ago. Here’s the next big story. Netfllix is thinking about going BTC.
— Max Keiser (@maxkeiser) January 4, 2014
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.
Hello, my name is Niels Bosch
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I really don’t think they want to do pay per view
Then you can pay monthly with bitcoin
They will accept bitcoin if they know what is good for them.
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.
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
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.