Consumers Turn `White Elephants` into Must-See DVDs on Peerflix
MENLO PARK, Calif.--(BUSINESS WIRE)--Dec. 27, 2005--This post-holiday season, DVD recipients will be able to recycle their holiday gifts without going back to retailers. Peerflix, an online peer-to-peer (P2P) service that allows members to legally trade DVDs, is reminding consumers to leverage their holiday gifts by trading in the DVDs they received during the holidays for the ones that were actually on their wish list. Industry sources predict that consumers will spend $5.8 billion buying DVDs in the fourth quarter of 2005, up from $5 billion in fourth-quarter 2004.(1) As the market grows, so do the number of people who will receive movies that they have already seen or don`t want. Peerflix introduces an alternative solution to `white elephant` gifts by allowing consumers to trade DVDs among themselves and avoid the increasingly complicated process of returning merchandise. In addition, beginning Tuesday, December 27, 2005 through January 9, 2006, Peerflix will give away a new DVD release to every new user who activates their account.
"Loved ones don`t always give gifts you love. If you wanted The 40 Year-Old Virgin but Aunt Edna gave you Charlie and the Chocolate Factory, Peerflix will help you get the DVD you want to watch," said Peerflix co-founder Billy McNair. "Our members don`t have to battle the post-holiday mall crowds or make exchanges without a receipt. They simply go online and use Peerflix to trade the DVDs they have for the DVDs they want without the pressure of monthly subscription fees."
Besides the crowds, consumers are likely to face strict return policies as they visit retailers this post-holiday season. For example, many stores have started tracking return history and occasionally charging re-stocking fees.(2) Others require receipts for returns and exchanges or impose return deadlines. If DVD packaging seals are broken they may be simply un-returnable. The Peerflix peer-to-peer exchange enables its members to avoid the post-holiday retail hassle and trade DVDs from the comfort of their own home.
Each year, consumers are giving away and receiving more DVDs as holiday gifts. Often times, however, people receive DVDs they don`t want or don`t plan to watch more than once. Using Peerflix, internet users can legally trade the DVDs they receive for those they want to watch without committing to a monthly subscription fee. Users pay $0.99 per trade to access a network of more than 150,000 DVDs, and if they sign up between December 27, 2005 and January 9, 2006, new users can also pick a free new release from Peerflix to help them get started.
(1) Hollywood Reporter, October 4, 2005
(2) Consumer World, December 19, 2005
About Peerflix
Peerflix offers a peer-to-peer online trading platform for physical goods or services. In its first application, the system allows users to legally trade DVDs directly with one another, across a large, decentralized network. Using the Peerflix service, members can get the most out of their DVD collections, maintaining a dynamic and updated library of DVD titles in a cost effective manner. Started in 2004, Peerflix has already grown to become the leading online destination for DVD owners to trade their DVDs. Peerflix is supported by leading venture capital firms including Battery Ventures, BV Capital and 3i. The Peerflix service is currently available in both the United States and Canada. For more information, please visit http://www.peerflix.com.
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