There are some showbiz companies that haven't been weakened by the lousy worldwide economy. In fact, some in Hollywood are thriving in these tough times, and a slim few might actually be benefiting from recession-related shifts in consumer spending.
LOS ANGELES - The entertainment industry is recession-proof, right?
Tell that to the thousands of people who have lost their jobs in the movie, TV and music sectors during the past few months.
Still, there are some showbiz companies that haven't been weakened by the lousy worldwide economy. In fact, some in Hollywood are thriving in these tough times, and a slim few might actually be benefiting from recession-related shifts in consumer spending.
Netflix is arguably the most obvious winner. The DVD-by-mail company should add more than 1 million subscribers this year, bringing its total to 11.3 million, as U.S. consumers look for cheaper ways to watch movies than visiting the multiplex or renting titles for $4 a pop at Blockbuster.
When Netflix recently reported quarterly financial results, it showed improvement not only in the top and bottom lines but also in its gross margins and subscriber-acquisition costs. Shares of the company are up 59 percent during the past 12 months, while the S&P 500 is off 38 percent.
Netflix CEO Reed Hastings says that “streaming is energizing our growth," and as more of its customers opt for digitally delivered VOD, Netflix saves on postal costs.
LOS ANGELES - The entertainment industry is recession-proof, right?
Tell that to the thousands of people who have lost their jobs in the movie, TV and music sectors during the past few months.
Still, there are some showbiz companies that haven't been weakened by the lousy worldwide economy. In fact, some in Hollywood are thriving in these tough times, and a slim few might actually be benefiting from recession-related shifts in consumer spending.
Netflix is arguably the most obvious winner. The DVD-by-mail company should add more than 1 million subscribers this year, bringing its total to 11.3 million, as U.S. consumers look for cheaper ways to watch movies than visiting the multiplex or renting titles for $4 a pop at Blockbuster.
When Netflix recently reported quarterly financial results, it showed improvement not only in the top and bottom lines but also in its gross margins and subscriber-acquisition costs. Shares of the company are up 59 percent during the past 12 months, while the S&P 500 is off 38 percent.
Netflix CEO Reed Hastings says that “streaming is energizing our growth," and as more of its customers opt for digitally delivered VOD, Netflix saves on postal costs.
