David Poltrack, executive vice president for research and planning at CBS, said Tuesday that within the past year Netflix's streaming platform has become a "phenomenon," growing from a tiny presence last summer to the size of a "mid-sized cable network" today. As reported by Mediapost.com, Poltrack, who has previously played down industry concerns about "cord cutting" among TV viewers, said that 43 percent of so-called early adopters in the television audience -- those who own digital TV sets and have them connected to the Internet -- now subscribe to Netflix. He told an industry conference in New York that the take-up was particularly remarkable given the fact that Netflix offers relatively few top television shows and that it is likely to grow even faster when it does. "They don't have the content, but they certainly have the right ideas," he said. Several analysts, however, have downgraded their ratings on Netflix to "sell," citing expectations of strong competition and higher content acquisition costs.

08/06/2011