Android streaming boosts Netflix stock value
updated 04:45 pm EST, Mon February 14, 2011
Watch Instantly launches on Android, Boxee Box
Following announcements of Netflix support on Android devices and the Boxee Box, shares of Netflix stock surged by seven percent by the end of the trading day. The primary announcement came from Qualcomm at Mobile World Congress, which highlighted the new capabilities for the wide range of Snapdragon-based devices.
Although Netflix streaming has been available on iOS devices, the Android introduction marked a significant expansion in the company's reach among mobile handsets. The Boxee announcement arrived later in the day, but likely helped boost investor confidence in the streaming video provider.
Android and Boxee support is only the latest move for the company, which has continually worked to support the myriad of new connected devices ranging from televisions to set-top boxes. Netflix has simultaneously emerged as a net-neutrality advocate, as its customer base is bolstered by users seeking the $8/month streaming-only subscription rather requesting DVD rentals sent via mail. [via AP]
