How Bitcoin Could Change Netflix

How Bitcoin Could Change Netflix

Max Keiser, host of RT’s Keiser Report, has been supportive of bitcoin for some time. He previously shared leaked information about Zynga accepting the digital currency which turned out to be true. The other day he claimed Netflix would be the next big name to start accepting bitcoin, although his source is of course anonymous. Keiser made this prediction during the 545th episode of his show and also posted about it on Twitter.

Whether or not this pans out, bitcoin would serve online content providers like Netflix and Hulu Plus perfectly. While many people subscribe and continue to pay monthly fees, there are just as many people who can’t justify paying the full bill every month. Why? Some months are busy and there simply isn’t enough time to consume a decent amount of content.

These people are potential pay per view customers, but PPV hasn’t been an effective option for providers. This is because the credit card transaction fees for consuming individual shows can easily cut into profits. If Netflix charged only $0.25 for an individual show or film, the standard fee of $0.10 plus 1.6% would come to 40% of the item price. That means Netflix would have to pay a lot more fees in order to offer a pay per view option.

If providers started accepting bitcoin, which doesn’t come with these transaction fees, content providers could pull in a new audience of people who normally wouldn’t subscribe to a monthly service. Bitcoin has the potential to change online media consumption forever.

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About the author

Avai is a jack-of-all-trades multimedia artist with a passion for storytelling. He's worked in film, animation, comics, and video games. You can find his work at Avai rides his motorcycle without wearing a safety belt. He also loves the idea of a truly open, digital currency...and what that means for the future.

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