I saw this coming for Netflix

JWiPhone

Genius
Gold
Sep 18, 2007
6,326
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Los Angeles, CA
#1
Over a month ago when they changed their pricing structure, and there was this huge uproar I knew there would be major defections. Sure enough Netflix stock has taken a huge hit, down nearly 19 percent today. Over a month ago the stock stood at $300. Today it is $169.

Netflix subscribers leave.
 

ZR_Yancy

Genius
Gold
Jul 11, 2008
3,982
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113
Florida
#5
The movie studios who want more money for Netflix to provide their content to it's subscribers. It's not Netflix fault. Blame the studios.
 

JWiPhone

Genius
Gold
Sep 18, 2007
6,326
422
83
Los Angeles, CA
#6
The movie studios who want more money for Netflix to provide their content to it's subscribers. It's not Netflix fault. Blame the studios.
I agree. That is what it all boils down to. It leaves Netflix between a rock and a hard place. Yet, people will look at the record profilts Netflix has generated, and then realize they have to fork over more money. In this economy it doesn't sit well.
 

Rugaby

Genius
Gold
Feb 18, 2011
7,122
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113
Washington state
#7
Everyone wants media instantly and with ease. Blockbuster. The iconic rental chain is all but gone. While Netflix had a great idea and ran with it. It has been picked up by everyone. I personally got I'd of Netflix when they changed to more streaming and less movies out. I am a five redbox movies a day kind of guy.
 

Michael Baturin

Evangelist
Gold
Jul 11, 2007
1,745
239
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31
South Jersey
#8
Everyone wants media instantly and with ease. Blockbuster. The iconic rental chain is all but gone. While Netflix had a great idea and ran with it. It has been picked up by everyone. I personally got I'd of Netflix when they changed to more streaming and less movies out. I am a five redbox movies a day kind of guy.
Goodbye Netflix for me. I did switch to streaming only but now that I just replaced Dish Network with Comcast with all the movie channels and on demand - Netflix is gonna hit the road.


Sent from my iPad 2 using iCafe app
 

Ltzguy

Zealot
Gold
Jun 22, 2010
1,331
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Right here
#9
Sorry netflix. Redbox rules. If they keep the pricing where it's at, I'll be faithful. I've been thinking about getting a redbox machine myself.

I cancelled on their first price increase.
 

acosmichippo

Genius
Platinum
Sep 10, 2007
15,384
1,089
113
DC
#10
I've cancelled my subscription for the time being. I think I've just about netflixed their whole catalog worth netflixing anyways.
 
Oct 24, 2010
3,050
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113
Denver, CO
#11
I think everyone saw this one coming including Netflix. I am curious if the number of acceptable losses have exceeded what Netflix planned on with the price hike.


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cindra

Member
Bronze
Dec 17, 2008
359
17
18
North Carolina
#12
I switched to just streaming when they first announced the hike, but I've since canceled them altogether. Their streaming selection was not great to begin with and much of it can be found other places. It was fun while it lasted, but they way overshot their price/value for me.
 

JWiPhone

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Gold
Sep 18, 2007
6,326
422
83
Los Angeles, CA
#19
Stock plummeted again today, down to $143 now.

Quote from CEO Hastings

"I messed up," Mr. Hastings wrote in a lengthy post on Netflix's blog. "In hindsight, I slid into arrogance based upon past success."