Best Buy is bringing its online video download service, CinemaNow, to Canada this summer. Competing with brands already in the digital media market, Netflix and Apple, Best Buy is hoping to grab a part of the online content market share.
According to the Financial Post, CinemaNow provides customers with new release movies and current TV programming. The service will be launched by Best Buy and Future Shop in August with a 10,000 movie title library offered in either standard or high definition quality. Available initially exclusively for computers, Best Buy plans to bring the service to TV, Blu-ray players, mobile devices and video consoles sometime this fall.
As Netflix’s services usually offer older movies, CinemaNow may present a real challenge.
Sony Pictures and Fox Entertainment have signed up to offer content to Canadians through the CinemaNow service. Best Buy is continuing negotiations with other studios before the launch.
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“The strategy here for Future Shop and Best Buy is based on an idea that is very customer-centric: choice,” Christopher Bennett, Best Buy and Future Shop Canada’s director of corporate communications, said in an interview with the Financial Post. “It’s not that digital content is killing DVD sales, but I think we’re seeing and will see a decline of that category as a result of all of the applications and other avenues where you can get the digital content easier and likely less expensive.”
Best Buy’s other forays into the video rental industry is the planned launch of Best Buy Video Rental Kiosks that will be available across the country.
This move from Best Buy is a direct result of consumers flock to online content, conveniently available to consumers who prefer things instant.