Two movie related posts in a row - I must have been brainwashed by the Oscars on Sunday…
There are times in life when you are subconciously aware of a fact, but take solace in the fact that there is no way to really know the true value of that fact and therefore continue about your day. Much in the same way that people who can’t see the current level of the plaque build-up in their arteries keep double-fisting Big Macs, I was content to leave my Netflix movies peacefully collecting dust on my counter unknowing of their true cost to me….until now.
Enter a new service called FeedFlix with their slogan urging you to “Get Your Money’s Worth Out of Netflix”. FeedFlix is a beautifully simple illustration of the power of visualizing data. You simply type in your Netflix account information and they look at your entire rental history and return rate to spit out some shocking data about your usage. My $17.99 per month subscription is averaging out to me paying $8.49 per rental. Ouch.
This is the genius of Netflix - and also where they might be ahead of other movie services such as Chicago based phenom RedBox. While RedBox maxes out your “late fee” penalty at $25 and effectively gives you ownership of the movie in your possession, Netflix is content with quietly continuing to bill you monthly for your membership and has no late fees. I’m sure there are some savvy folks crunching numbers behind the scenes of both of these operations and they have undoubtedly optimized their billing schemes - but it seems to me that Netflix would win in the long run. Seeing that $1/day pop up on your bank statement for 25 days would raise some red flags and probably get you to return your movie more promptly. If anyone has data to the contrary, please let me know.
…I digress…Arguing the merits of business models aside, FeedFlix is a great tool to help you visualize your spending with a cold, objective slap to the face that dispels the myth of Netflix offering such a value…”You only have to rent 4 movies a month and you come out ahead!”….easier said than done. You win this round, Netflix.