LOVEFiLM slashes prices in response to Netflix launch

Tuesday, January 10th 2012
Netflix launch 'persuades LOVEFiLM to cut prices'
The price of LOVEFiLM's streaming-only service is thought to have been cut by £1 per month.

LOVEFiLM is believed to have cut the price of its online streaming-only movie rental service in response to the launch of Netflix in the UK and Ireland.

The company, which also offers film rentals by post and download, reduced its streaming-only package from £5.99 to £4.99 per month, undercutting the monthly Netflix subscription fee by £1, reports the Daily Telegraph.

Netflix enjoyed continuous growth in its customer base since launching in 1997 until the final quarter of last year, when the decision to increase the cost of its DVD rental and streaming product by 60 per cent sparked the loss of 800,000 clients.

In a bid to gain market share following its UK debut, Netflix is offering consumers one month of free access to its service, which allows users to instantly stream movies and television shows such as Prison Break and The Only Way Is Essex to smart TVs, games consoles, tablets and other mobile devices.

New content is "constantly" added to the platform, explained chief product officer at Netflix Neil Hunt.

Related News

Android phone users will now have access to the Sky Go service, allowing them to watch a number of live channels including the Sky Sports channels and Sky News.
Film fans will be able to buy superhero movie Green Lantern on Blu-ray and DVD from October 17th.