Posted on 10/24/2011 4:58:51 PM PDT by skully
SAN FRANCISCO (AP) Netflix's video subscription service lost 800,000 customers in the third quarter the biggest exodus in its history even as its earnings rose 65 percent.
The losses were larger than management had previously warned. The unwelcome surprise, contained in financial results released Monday, was compounded by a forecast calling for millions of Netflix Inc.'s DVD-by-mail subscribers to cancel the service in reaction to dramatic price increase that took effect last month.
The bad news bruised already battered stock as the shares plunged by more than 26 percent.
(Excerpt) Read more at tuscaloosanews.com ...
Heh. Netflix radio ads are among the few I enjoy. Stupid, yes, but the nonsense is to surreal to not wait for and grin at. Right up there with AccountTemps.
Yeah, RedBox’s primary blame is on debit card fees.
I thought the Obama & Co. just REDUCED debit card fees.
Repetitious, boring and dumb ads, IMHO And they obviously don’t sell the product.
Netflix streaming is still a much better value than having cable TV, in my opinion, but they really did screw up the way they did their changes. First of all, if they’d simply announced a modest price increase on the typical service (even 20%), it wouldn’t really have been a big deal to customers ($2/month). They already had a cheaper streaming-only option available, so they could have promoted that and nobody would have minded, and people like me probably would have migrated over to that eventually anyway (I hardly ever watched the DVDs... I’d hang on them for weeks). The ‘Quickster’ thing was unspeakably dumb, basically a slap in the face to the customers who *were* willing to pay 60% more for DVDs, and with a name almost identical to an old Amway scam.
I’m keeping Netflix streaming because it’s cheap and I use it all the time. If Amazon Prime keeps getting more programming, I might be tempted to switch, but only if Amazon lets me stream through a Wii like Netflix does.
If they had only asked me for my opinion before jacking up their rates that high that fast. It was pretty much a no-brainer that they were going to hemorrhage customers like a cut artery.
+++++++++++++++++
I’m strictly a Netflix streamer so none of this affected me at all.
But I’m really curious where those 800,000 people went to find a better deal than what they had at Netflix even with the higher pricing.
Anybody know?
If they had only asked me for my opinion before jacking up their rates that high that fast. It was pretty much a no-brainer that they were going to hemorrhage customers like a cut artery.
+++++++++++++++++
I’m strictly a Netflix streamer so none of this affected me at all.
But I’m really curious where those 800,000 people went to find a better deal than what they had at Netflix even with the higher pricing.
Anybody know?
I have way too much invested in my entertainment system to watch streaming video via my crappy (rural) internet connection. No interest whatsoever.
Even with the best connection available, streaming is no match for a properly recorded BluRay on a system that is good enough to appreciate it. Especially the audio.
By going to disc only, I am actually paying slightly less than I was before, and not paying for streaming.
I’m sticking with Netflix... sure they made some mistakes, but they also corrected them. I have always rec’d 100% of the time excellent customer service from them, and the one time I rec’d a scratched disk, they bent over backwards to make me happy.
I also LOVE my instant streaming!!
Netflix owns Blockbuster?!
Anyone that bitches and moans about paying $8 per month for the Netflix streaming service is an idiot. It is absolutely best deal out there- by far.
I am one of the 800,000. The quality of streaming is barely DVD quality and does not approach Blu-ray at all. I, too was frustrated that the streaming selection was poor. As an Amazon Prime member, there is a pretty huge selection of stuff to stream @ Amazon, including lots of documentaries. The price increase was a good opportunity to bail on Netflix (after years).
What I really like is the many discoveries I have made that I wound never have found without Netlix.
Flame and Citron would be one of countless examples.
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