More Tailwinds for Netflix

If Blockbuster opts for an official price hike, or even if it simply tones down its marketing push, Netflix stands to benefit.

In a recent survey conducted by Foresee Results, a customer satisfaction consultancy, Netflix was named as "the cream of the crop in customer satisfaction" among 40 of the top Internet retailing sites, including Amazon (AMZN - Cramer's Take - Stockpickr), LL Bean and Apple (AAPL - Cramer's Take - Stockpickr).

Meanwhile, Amazon remains the wild card in the business. Speculation has run rampant that the online retailing giant will enter the market, partnering with Netflix or Blockbuster, or just launching a service of its own.

Amazon, which has already started online rental services in Europe, has held talks with both players about a partnership, but nobody is commenting on the substance. Still, analysts are willing to bet that as the market leader, Netflix would be the more likely beneficiary of any move Amazon might take.

McAlpine said NetFlix has been downplaying the future threats to its business model posed by new technologies like video-on-demand.

"They don't seem to think it's a very big deal anymore," McAlpine said. "If they're right, that gives them more credibility as a long-term stock investment, and it will save them a lot of money in research and development costs."