The thing is Netflix CEO praised this system in his quarterly conference call. From the original Wall Street Journal article:
Disney is expected to unveil technology next month that will give consumers “access rights” to movies and TV shows, allowing them to pay a single price for permanent access to content across the web, mobile devices, and cable services that allow on-demand viewing.
The technology, known as Keychest, allows users to purchase rights to a movie from a participating store, and the user’s accounts with other participating services, such as mobile providers or VOD cable services, show the content as available for viewing, the Wall Street Journal reports. The movies reside with the particular delivery company, and the user can access the movie from any device. This could mean an end to the necessity of owning of physical DVDs.
...The competing DECE effort is being assembled by a consortium headed by Mitch Singer, the chief technology officer of Sony Corp.'s Sony Pictures Entertainment. DECE, announced just over a year ago, includes five major Hollywood studios, plus tech companies like Comcast Corp. and Intel Corp.
...Disney executives concede that the Keychest and DECE have similar goals. But they argue their effort represents a more streamlined approach. Instead of designing a new set of standards and formats, as DECE is trying to do, and having participants sign on, Keychest works using a combination of digital file formats that are already common, and recognized by a wide range of existing devices.