Netflix is preparing another bounty for better movie recommendations

For the past few years Netflix has been dangling a $1 million prize in front of geeks willing to attempt to come up with a better movie recommendation algorithm than the one Netflix was using. The goal was to improve the Netflix recommendations by 10%. Last month, two teams topped the 10% mark, and it's likely that one of them will win the prize.

In the meantime, Netflix is already looking ahead. In a blog post, Netflix Chief Product Officer Neil Hunt says the winner of the $1 million prize will be announced in September, and that Netflix is planning a sequel.

There's no word on how much money Netflix will offer this time around, but the company is putting time limits on the contests this time. Instead of competing to improve the accuracy of Netflix recommendations by a certain percentage, Netflix will offer prizes to the teams with the best results after 6 months and 18 months.

[via CNET]

Tags: movie-recommendations, netflix, netflix-prize, news