Amazon’s UK media service, LOVEFiLM just announced reaching a milestone of two million subscribers now that the company offers instant streaming to its customers. Netflix had better get its life jacket ready, cause that boat is about to capsize.
In the fourth quarter of 2011, LOVEFiLM saw a record number of sign-ups due to its addition of LOVEFiLM Instant, which offers subscribers instantly streamed film and TV series in addition to the DVD and Blu-ray selection already offered.
The company also announced the addition of an instant streaming-only subscription for those who don’t want to have discs mailed to them. The streaming-only subscription will cost £4.99 per month and can be accessed through PlayStation 3, Xbox and the iPad, as well as a variety of LOVEFiLM-enabled televisions and set-top boxes.
As Netflix starts to lose its footing as the biggest media streaming service around, companies like LOVEFiLM fill the void, offering the same service for a similar price. If the media giant does not want to be thought of as an old shoe, it should rethink its subscription structure. Maybe they could entice consumers back with a cheaper plan. I, for one, just canceled my DVD delivery service entirely. The price was just too high. I have a perfectly good video store up the street that I can go to for movies that aren’t available for streaming and I don’t have to wait as long for them to be available to rent.