Netflix posts a $5 million quarterly loss -- its first since 2005 -- even as the company's subscriber base grows to 26 million and CEO Hastings' pay jumps 68 percent to $9.3 million for 2011.
Netflix and telecom giant Verizon Communications have reached an agreement to provide improved video streaming to the latter’s customers, a spokesman confirmed Tuesday.
The deal is believed to replicate a February arrangement that Netflix, led by CEO Reed Hastings, struck with Comcast. It will provide a direct connection from the online video service to Verizon broadband customers.
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CNET on Monday night quoted a Netflix representative discussing the so-called interconnect arrangement with Verizon that the streaming firm hopes will improve streaming performance in the future.
Financial terms were not disclosed.
Email: Georg.Szalai@THR.com
Twitter: @georgszalai
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