Google Chromecast Sells Out, Ends Free Netflix Streaming

by Christopher Freeburn | July 29, 2013 11:26 am

google chromecast 284x300 Google Chromecast Sells Out, Ends Free Netflix Streaming[1]Google has pulled the plug on a promotional offer that initially accompanied its new Chromecast media streaming device[2].

When it was launched last week, buyers of the new TV dongle could take advantage of a free three-month trial of Netflix (NFLX[3]) service. That offer even extended to existing Netflix customers, the Wall Street Journal noted.

The Chromecast is priced at $35. Given that Netflix’s streaming media service costs $7.99 a month, the offer effectively reduced the price of the device to $11.¬†Buyers swarmed online vendors, quickly exhausting the first batch of Chromecast units[4].

The sheer demand caused Google to rethink the economics of the offer and by Thursday, the Netflix promotion had been cancelled on future Chromecast orders. Consumers who purchase the device prior to 8:41 p.m. Eastern Time on July 24 will still receive the free Netflix trial.

Plugging into a TV’s HDMI port, the Chromecast allows users to wirelessly stream music or video from a variety of sources including mobile devices[5]. The device competes with Apple‘s (AAPL[6]) Apple TV and Microsoft‘s (MSFT[7]) Xbox, which also streams content to TVs.

Shares of Google rose fractionally in Monday morning trading.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2013/07/google-chromecast.png
  2. that initially accompanied its new Chromecast media streaming device: http://blogs.wsj.com/digits/2013/07/26/googles-netflix-chromecast-deal-is-over/
  3. NFLX: http://studio-5.financialcontent.com/investplace/quote?Symbol=NFLX
  4. exhausting the first batch of Chromecast units: http://investorplace.com/2013/07/ebay-sellers-hike-prices-for-sold-out-chromecast-by-700/
  5. stream music or video from a variety of sources including mobile devices: http://investorplace.com/2013/07/chromecast-google-unveils-35-internet-tv-device/
  6. AAPL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AAPL
  7. MSFT: http://studio-5.financialcontent.com/investplace/quote?Symbol=MSFT

Source URL: http://investorplace.com/2013/07/google-chromecast-sells-out-ends-free-netflix-streaming/
Short URL: http://invstplc.com/1frAgE9