In an interesting report from Cowen and Co., they predict that Netflix will beat iTunes in the movie downloading business.

In a story from Home Media Retailing, they report that the move by iTunes to offer feature length movies "won't negatively impact online movie rental pioneer Netflix."

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The story goes on to say that due to Apple's business model of offering downloads "versus Netflix renting them," Apple's offerings would only impact users of the iPod.

Cowen and Co. seem to feel that with Netflix huge subscriber base, they can become "the leader in movie downloads" once the company gets their download service up and running.