Videogame players are spending more time playing videogames than ever. But that won’t do the videogame business much good unless those players actually start buying new games again.
Netflix has been one of the rare winners during the recession/depression: Customers are flocking to the movie rental service and investors love the stock. This meant that expectations were very high for the company’s first quarter, and it appears to have met them.
Can troubled video rental giant Blockbuster survive without filing for bankruptcy protection? Yes, says a former competitor, who is betting a few million dollars on that proposition. But if the company does file Chapter 11, Mark Wattles has some protection.
Why did Blockbuster release some of its fourth-quarter numbers today–two weeks before it was scheduled to do so? Because it wanted to impress investors who freaked out on Tuesday when the company had to swat away rumors that it was headed for Chapter 11. Alas, investors are giving the numbers mixed reviews.
The movie rental business is supposed to be recession-proof. That was true for Netflix, which posted great results at the end of 2008 and said this year would be even better. But that hasn’t panned out for Blockbuster, which is reportedly mulling a Chapter 11 bankruptcy protection filing. No confirmation from the company yet, but investors aren’t waiting around to find out: BBI shares are now less than a quarter a piece.
Here’s another company that looks to be resistant to the recession and may even be benefiting from it: Netflix beat high expectations for the final quarter of 2008, and predicts a gangbusters 2009.
Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider. Read more »
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