It appears that the recommendation engine is provided by ChoiceStream. ChoiceStream uses a content-based algorithm (matching metadata about the movies) that they call "Attributized Bayesian Choice Modeling".
Greg also points out that ChoiceSteam offers a television recommendation service called MyBestBets.
Another web-based movie recommender system (this one utilizes collaborative filtering) is called MovieLens. It comes from the GroupLens Research Project at the University of Minnesota and has been online for several years.
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