On the same day Whitney Tilson reiterated his love for Netflix,� the company launched service across the pond and challenged another kind of love: competitor Lovefilm.
The Netflix (NFLX) launch into the UK and Ireland Monday was long in the works; the buzz had shares rising into the close — up 14% to $98.49.
Amazon.com owns Lovefilm, having purchased it last year, and Netflix is offering similar services and prices to steal away customers, reports the Wall Street Journal.
Netflix streaming also poses a challenge for satellite broadcaster British Sky Broadcasting Group (BSB.London), which provides paid programming in the UK and Ireland. News Corp. (NWSA), parent of Barron’s and the Journal, owns a 39% stake in BSkyB.
Tilson was on CNBC earlier today when the stock was trading at about $94. He liked it, at that point anyway, and said that while he bought Netflix at around $77, he’s sticking with it.
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