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TheStreet Open House

Netflix's Competition Keeps Growing

NEW YORK ( TheStreet) -- The list of Netflix (NFLX) competitors keeps growing, this time with Google (GOOG) reportedly looking to step up YouTube's video streaming service.

According to the New York Post, the Internet giant will give more prominence to its movie streaming service, which it launched in May, on YouTube, and may also be looking to add its service to Android devices.

YouTube's video streaming service boasts 6,000 titles, Once they purchase the rental, customers have 30 days to begin viewing, but once they do, have just 24 hours to watch it. Currently, Universal, Sony and Warner have partnered with YouTube to provide content.

This comes as Wal-Mart (WMT), Amazon (AMZN) and Blockbuster have also been ramping up and aggressively promoting their video streaming services.

In the past two weeks, Amazon (AMZN) has struck streaming content deals with CBS (CBS) and NBCUniversal, bringing its library to about 9,000 titles, which compares to Netflix's approximately 20,000.

Wal-Mart announced last week that it will make many new movies available on its Vudu.com the day they come to DVD. It will also advertise Vudu.com more prominently on its Web site and in stores.

Blockbuster, which was bought out of bankruptcy by Dish Network (DISH) in April, is also looking to woo back customers it previously lost to Netflix. The company sent out an e-mail to consumers last week promoting its Total Access program and lower prices.

These tactics are all aimed at taking advantage of Netflix's recent hiccup. The company recently raised its subscription rates, igniting an outcry from users. As a result of the higher prices, Netflix management said during its second-quarter conference call last week that it expects some subscribers to cancel their memberships altogether.

While Netflix believes subscriber growth will recover in the fourth quarter, rivals are hoping to siphon those members who opt out of Netflix when the price hike goes into effect in September.

-- Reported by Jeanine Poggi in New York.

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