NETFLIX will pay $1,000,000 for your ideas

October 10, 2006 at 9:35 pm (Technology)

NETFLIX CREATES $1 MILLION NETFLIX PRIZE TO PROMOTE PROGRESS IN RECOMMENDATION SYSTEMS

LOS GATOS, Calif., October 2, 2006 – Netflix, Inc. (Nasdaq: NFLX), the world’s largest online movie rental service, today announced the creation of the Netflix Prize, an award of one million dollars to the first person who can achieve certain accuracy goals in recommending movies based on personal preferences. The company also made available to contestants 100 million anonymous movie ratings ranging from one to five stars, the largest such data set ever released.

Netflix said it will publish a detailed description of the winning approach for the benefit of companies, entrepreneurs and academicians.

Complete details for registering and competing for the Netflix Prize are available at www.netflixprize.com.

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