Lovefilm turns its first profit
CommentsLOVEFILM turned their first profit this year, making £1.92m before tax.
The DVD rental service's accounts, published at Companies House, show that sales have had to increase significantly to secure Lovefilm its first year in profit.
Overall, income from DVD rental subscriptions, streaming and the site's online store increased 14.4%, to £111.19m.
Amazon deal
Earlier this year, Amazon finally bought up Lovefilm, reportedly for around £200m.
In 2008, Lovefilm bought Amazon's own DVD rental service, one of its major competitors at the time after which the online retail giant maintained a stake in the company of just under 50%.
Amazon - which has worked hard to make itself the most recognised purveyor of the e-books, music downloads and, with the acquisition of companies such as Audible, e- much more besides - has presumably been behind much of Lovefilm's drive away from the DVD rental by post model and towards digital delivery.
More platforms
Yesterday, Lovefilm announced that it will be one of around 40 big-name TV and film providers to launch on the Xbox 360 before the end of the year.
The streaming service's move to the PS3 last year made online film access that bit more accessible.
All Lovefilm subscribers with membership deals that cost more than £5.99 (£8.16 with games included) get some access to the providers streaming service.
Those on plans offering unlimited discs every month get unlimited streaming too.
"Microsoft is very excited to be welcoming Lovefilm to Xbox Live," said Xbox UK's Stephen McGill.
"I feel certain that the opportunity to interact with Lovefilm's amazing catalogue of studio and independent film releases using Kinect-enabled voice and gesture commands will be well received by Xbox owners here in the UK."
The Lovefilm for Xbox service will join other on-demand pioneers including Blinkbox, Vevo, YouTube and Daily Motion.
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