Netflix backs cut of Saturday mail
WASHINGTON — Netflix Inc., which says it’s the largest-growing first-class US Postal Service customer, gave its support to ending Saturday mail delivery.
The approval of Netflix, which has more than 14 million subscribers, follows that of Time Warner Inc., publisher of more than 20 US magazines including Sports Illustrated and People.
The Postal Service, which says eliminating Saturday delivery would save $3 billion a year, wants to reduce the service to five days a week. The proposal is among a suite of possible changes to plug its deficit.
“A well-functioning Postal Service, positioned over the long haul to meet changing customer and consumer demand, is more important than maintaining current delivery frequency,’’ Andrew Rendich, Netflix chief service and DVD operations officer, said in testimony yesterday before a joint US House-Senate hearing about postal customers and workers.
Netflix, based in Los Gatos, Calif., called on the Postal Service to make other changes, such as expanding its range of products, to restore profitability.
Netflix shares rose $1.34 in Nasdaq Stock Market trading to $117.77.