A multinational team claims to have qualified for Netflix’s $1 million prize for coming up with an improved algorithm for recommending specific movie rentals to subscribers. The contest is a real bargain for Netflix: it gets thousands of contestants doing free R&D work for them (not to mention the free publicity associated with the contest), while having to pay the prize money only to the winner (plus smaller annual best-progress prizes).
The contest rules appear to be a useful resource for anyone drafting rules for a similar contest for R&D, marketing, etc.
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