If you’re as addicted to Instant Netflix as the rest of us, you’re probably glued to the New Releases feed to see what the benevolent Netflix gods will bring you to enjoy from the comfort of your bed/couch every night. One company who has helped aid in their vast streaming library is Starz, which expands to original series and films that make it to their movie channels.
It looks like that deal won’t last much longer, as it’s been announced that Starz will choose to discontinue their deal with Netflix and Instant Netflix, pulling their content from the servers. Here’s the press release from Starz.
ENGLEWOOD, Colo., Sept. 1, 2011 /PRNewswire/ — Starz, LLC, President and Chief Executive Officer, Chris Albrecht, issued the following statement today regarding the status of affiliation agreement renewal discussions with Netflix.
“Starz Entertainment has ended contract renewal negotiations with Netflix. When the agreement expires on February 28, 2012, Starz will cease to distribute its content on the Netflix streaming platform. This decision is a result of our strategy to protect the premium nature of our brand by preserving the appropriate pricing and packaging of our exclusive and highly valuable content.”
“With our current studio rights and growing original programming presence, the network is in an excellent position to evaluate new opportunities and expand its overall business.”
After hearing news of this deal ending, Netflix’s stock dipped 8.7%, which is slightly higher than their 5-6% they estimated to drop once the deal ends in the beginning of 2012. Who will pick up the slack on Netflix’s streaming platform? HBO perhaps?