Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Netflix releases iPhone app, stock jumps

netflix.top.png By Julianne Pepitone, staff reporter


NEW YORK (CNNMoney.com) -- Netflix unveiled its long-awaited app for the iPhone on Thursday, sending the company's shares almost 2% higher.

The free app lets Netflix members stream TV episodes and movies to their Apple (AAPL, Fortune 500) iPhone or iPod Touch for no additional cost.

"Apple has changed the game for mobile devices," Reed Hastings, Netflix co-founder and chief executive officer, said in a statement.

The shows can be streamed over both Wi-Fi and 3G networks, and they are organized based on members' personal preferences, genres, new arrivals and individual instant queues.

Netflix (NFLX) shares gained 1.3% to end at $125.84 on Thursday. The stock has been on steady upward streak this year, crossing $100 for the first time in April after the company reported a blowout first quarter.

"Netflix Android" was a trending Google search on Thursday, and Twitter users were also grumbling about when the app would be available for their Android phones.

But Netflix is already available beyond the standard television. Video game consoles such as the Nintendo Wii let users stream to their TVs, and an iPad app has been around since April.

Earlier this month, Netflix announced an agreement with pay-cable movie channel Epix to stream films online from three major movie studios.

Netflix has been working to expand its reach as its competitors, includingCoinstar's (CSTR) Redbox and Wal-Mart (WMT, Fortune 500), also look to add streaming services down the road, and HBO, Hulu and Apple's iTunes build their online content. To top of page

Index Last Change % Change
Dow 18,448.41 -33.07 -0.18%
Nasdaq 5,212.20 -5.49 -0.11%
S&P 500 2,172.47 -2.97 -0.14%
Treasuries 1.58 0.02 1.15%
Data as of 8:31am ET
Company Price Change % Change
Bank of America Corp... 15.53 0.13 0.84%
Ford Motor Co 12.47 0.17 1.38%
Abbott Laboratories 42.84 -0.33 -0.76%
HP Inc 14.37 -0.03 -0.21%
Micron Technology In... 16.20 0.69 4.45%
Data as of Aug 25
Sponsors

Sections

The pilots, who held pickets at eight major airports in June, are at the Atlanta headquarters of the world's No. 2 airline. The pilots are not on strike, and the demonstrations are meant to call attention to their demands. More

Investment bank UBS says Wall Street, energy and retail could be big winners if Donald Trump is the next president. But overall stocks and bonds would likely do better under Hillary Clinton. More

Tesla started building its massive Gigafactory in June 2014. Since then, home prices in the nearby market have risen faster than the national average. More