Business

Exodus? Netflix Subscribers Signal Intentions to Cancel Subscriptions

Exodus Continues: Netflix Subscribers Beating Hasty RetreatIt does not appear that CEO Reid Hastings’ mea culpa for mis-communicating the recent changes in the operations of Netflix Inc. will quell the anger caused by the announcement that the company is splitting its DVD-rental and streaming video businesses. It is not the unnecessary split as much as it is the 60 percent price hike that is sending subscribers looking elsewhere for their movie fix.

Media research firm Frank N. Magid Associates Inc. surveyed both subscribers and non-subscribers to the Netflix services just prior to Netflix’s price hike announcement. A full 9 percent of current responders said they would cancel their subscriptions instead of switching to the new Netflix pricing plan and another 7 percent said they would cancel their subscriptions for reasons unrelated to the price change. Another 14 percent are “seriously considering” cancellation.

That is 30 percent of Netflix subscribers who have cancelled, will cancel, or are likely to cancel. The chief beneficiary of the cancellations appears to be Coinstar, Inc., operator of the ubiquitous Redbox $1/rental machines. Magid’s research indicates that 60 percent of Netflix subscribers already use the Redbox machines, and 30 percent of these subscribers plan to use Redbox more because of the Netflix price hike.

According to the Magid research, customers are primarily unhappy with the selection available from Netflix’s streaming service. When Netflix split its subscription fees to separate streaming and DVD services, the streaming-only subscription price was set at $7.99/month and the cheapest DVD-service price was set at an additional $7.99/month. Before the price hike, a combined subscription cost $9.99/month.

To exacerbate the matter, Netflix announced on Sunday that it was splitting its businesses and that customers of both services would now be getting two bills instead of one. It is perhaps not prudent to charge more for no improvement in service or quality and then make it more difficult to pay the bill.

Arguably, Netflix’s price hike has been a disaster to which everyone in the company’s management should probably share the blame. Moving more of its business to a streaming model, on the other hand, is perhaps the right strategy. Perhaps Netflix management thought it could afford to lose a percentage of its customers if it is was compensated by higher fees.

Now the company can choose to stay on its current course or try to repair the damage. The latter course seems the most sensible, but Netflix might have already burned its bridges. About all it can do to repair them is to declare they made a big mistake and cancel all their plans and revert to the good old days of the $9.99 subscription fee.

Netflix might not be able to do that though, or its revenues and profits will suffer, even if all 30 percent of the departing customers come back. The company needs to come up with a way to staunch the bleeding. And that’s what Hastings and his management team get paid for — not for issuing self-serving, badly-reasoned blog posts.

And if you are wondering why in the world Netflix would have tampered with what was so apparently a winning model, this bit by Bill Gurley at Above the Crowd via Hotair is one of the more interesting theories we have seen:

Netflix has for the past several years been negotiating with Hollywood for the digital rights to stream movies and TV series as a single price subscription to users. Their first few deals were simply $X million dollars for one year of rights to stream this particular library of films. As the years passed, the deals became more elaborate, and the studios began to ask for a % of the revenues. This likely started with a “percentage-rake” type discussion, but then evolved into a simple $/user discussion (just like the cable business). Hollywood wanted a price/month/user.

This is the point where Netflix tried to argue that you should only count users that actually connect digitally and actually watch a film. While they originally offered digital streaming bundled with DVD rental, many of the rural customers likely never actually “connect” to the digital product. This argument may have worked for a while, but eventually Hollywood said, “No way. Here is how it is going to work. You will pay us a $/user/month for anyone that has the ‘right’ to connect to our content – regardless of whether they view it or not.” This was the term that changed Netflix pricing.

With this new term, Netflix could not afford to pay for digital content for someone who wasn’t watching it. This forced the separation, so that the digital business model would exist on it’s own free and clear. Could Netflix have simply paid the digital fee for all its customers (those that watched and not)? One has to believe they modeled this scenario, and it looked worse financially (implied severe gross margin erosion) than the model they chose. It is what it is.

Netflix shares are down by about -9 percent in the early afternoon today, at $131.39, after posting a new 52-week low of $129.50 earlier this morning. The stock’s 52-week high of $304.79 may be in the rear-view mirror for good now.

(Paul Ausick/Becket Adams- 24/7 Wall St./The Blaze)

Comments (112)

1 2 3
  • SamIamTwo
    Posted on September 21, 2011 at 9:32am

    Dropped them like a hot potato.

    Report Post » SamIamTwo  
  • John 3:16
    Posted on September 21, 2011 at 9:12am

    Maybe Netflix just needs to donate to Obama’s campaign, then they could get a little of the “Obama stash” oops stimulus.

    Report Post » John 3:16  
    • ozz
      Posted on September 21, 2011 at 11:44am

      LOLZ.

      It is greed pure and simple.

      As a good consumer I will now promptly show them THIS market will not bear the fee hike and annoyance of 2 bills by canceling my subscription.

      Goodbye Netflix……hello free from the net. Up yours Hollywood :D

      Report Post » ozz  
    • american1st
      Posted on September 21, 2011 at 7:33pm

      i just dropped from 2 disc + stream, to 1 disk +stream today (i dropped down from 3 at the previous price increase), i will watch all the old movies on my list over the next few months, and switch over to other ways of getting my new movie fix,
      once my list is thinned out i will get 0 discs and if i have found alternates for streaming they will end up being dropped completely…

      Report Post » american1st  
    • chfields62
      Posted on September 22, 2011 at 1:51am

      This is exactly whats happening to the cable/satelite companies, Hollywood is squeezing them for all they can, when they balk, they take out ads saying the cable companies are killing Dora, making it look like the cable companies the bad guys. The reality is the networks/hollywood are raping all the companies when the it comes to renegotiating the contracts. they are getting less money from advertisers, so they make up for it by screwing the cable, netflix, satelite companies. So lets put the blame where it belongs. If the cable/netflix/satelite etc has to pay more, well, then it gets passed on to us, thats how business works. Just wait, it will be coming to the internet as well, just you wait and see.

      Report Post »  
  • Nobar
    Posted on September 21, 2011 at 9:04am

    Netflix was bullied into this on both sides of it. On the one hand, we have the infinite greed of Hollywood; who so courteously lets Netflix have a limited streaming library and demands large royalties for the DVDs. And on the other hand, let us not forget that Netflix consumed 29% of US bandwidth (http://www.ibtimes.com/articles/148398/20110519/netflix-sandrive-at-t-internet.htm). Just on the bandwidth alone, they had no choice but to raise prices. Now what should be the solution? Give the DVD rental to Hollywood and let them screw themselves. When (or if) they wise up, then the streaming lib becomes worth 8/month.

    Report Post » Nobar  
    • NSDQ
      Posted on September 21, 2011 at 1:48pm

      While all that maybe very true, doubling the price of a luxury item in a bad economy kinda has a predictable outcome especially when there are free alternatives like Crackle.com & Hulu.com

      Report Post » NSDQ  
  • gwssacredcause
    Posted on September 21, 2011 at 8:41am

    I have stopped giving the Hollywood elite my money. Mr. Kutcher made it plain we are all too stupid to understand anyway and Gwyneth Paltrow shares his opinion as do numerous others in Hollywood that think we are so stupid we will continue to give them money for their pretend world so they can degrade the United States and insults it’s good citizens.

    Report Post »  
    • John 3:16
      Posted on September 21, 2011 at 9:02am

      Well it’s not all bad on netflix. If you have it and have not watched the “Encounter” you should. Glenn I believe would love this movie as would many of you. I also watched a Twilight Zone last night named “The obsolete Man” It really reminds me of our current state of affairs politically. I think Stu or Pat would love that one. Glenn could use it on GBTV.

      Report Post » John 3:16  
    • pbrenda51
      Posted on September 21, 2011 at 11:27am

      Absolutely…..I go to VERY FEW movies anymore……..and only if they are not produced by these outspoken liberal Progressives and if no outspoken liberal Progressives are “acting” in it……..where do these people get their brains? Why do they think we will listen to them…..their job is to ENTERTAIN us and that’s all……the vast majority haven’t even gone to college and yet, they think they know more than we do…….our son and daughter in law were watching the “awards” sunday night and I told them why I no longer watch any of the garbage on TV……we have made these people “godlike” and worship them more than we do our God. And they are paid way too much for what they do and yet, nobody seems to complain about them and sports players making all the money, but they complain about doctors (who save LIVES) and Wall Street making too much…..our son and daughter in law nodded in agreement and we turned it off……no more Dancing witht he Stars either…..they are shoving these oddballs down our throats…..so I turn them off

      Report Post »  
    • westtitus
      Posted on September 21, 2011 at 12:53pm

      I agree and have not been to a movie theartre in years and do not pay for movies on demand and will not. Bunch of deparved minds.

      Report Post » westtitus  
  • Michael S. Rowe
    Posted on September 21, 2011 at 8:37am

    Everyone, give me a break. Netflix made a survival decision like any other business would do. They decided to split their company into two divisions obviously to over time in the future dissolve the DVD side and make their future in the streaming industry where everything is going. People need to quit whining over their decision and trust in the market place. If their products are still good they will survive, if not they will go away. Netflix will soon be moving into original programming and start creating their own shows & series. It’s about time we have an alternative. Michael S. Rowe Apopka, FL

    Report Post »  
  • Johann
    Posted on September 21, 2011 at 8:37am

    we got rid of cable which was costing a fortune; we use antenna and netflix and are very pleased with the choices and the money we have saved. Nine dollars a month as opposed to sixty or seventy for cable; that is a no brainer. also people who are willing to drive out to a box to pick up a dvd already have plenty of money anyway especially at the price of gasoline today.

    Report Post »  
    • RavenGlenn
      Posted on September 21, 2011 at 11:03am

      Really? I’ll have you know that it takes me about 10 minutes to walk to a Redbox from my house. My previous residence was about a 2-3 minute drive to get a Redbox.

      So for a lot of people, the cost of gas to go to one is negligible. On top of that, Redbox are usually at major grocery stores, walmarts, etc. The sort of places you just might be going to anyway for something totally unrelated.

      Report Post »  
    • Bullhorn Guy
      Posted on September 21, 2011 at 11:51am

      No, Johann, the people with money have the 4-DVDs-at-a-time plan from Netflix (with the $2 extra for Blu-Ray), and still go to Redbox/Blockbuster Kiosks. You probably live out in the country or something, so it may be a significant cost to drive into town for a rental. Most of us do not.

      Report Post » Bullhorn Guy  
    • AR_OR_AK
      Posted on September 21, 2011 at 8:32pm

      We got rid of our cable and landline phone a few weeks ago. Can’t say I miss either. By adding another cell phone and getting rid of the other 2, I save $100 per month. My decision to drop cable came down to:1) too much money wasted not to watch it or 2) watch it a lot and become couch potatoes. Plus, I was sick of all the B.S. my kids were watching. The “kids” shows mysteriously had a bunch of kids running around doing whatever they wanted with no concern for money or parental supervision. The only show that had strong parents was Hannah Montana. Another thing I noticed is black dads are always cool and hip while the white dads are always buffoons and idiots. Too much liberal B.S. for my liking.

      Report Post »  
  • Slowman101
    Posted on September 21, 2011 at 8:25am

    Simple strategy: They charge, WE stop using them. As for me, I got NO notice of their plans. I am still with them, but not for much longer. I have a Redbox right up the road.

    Report Post »  
  • independentvoteril
    Posted on September 21, 2011 at 8:21am

    My husband and I canceled both streaming and DVD.. we had both but the new movies were always on DVD.. besides the fact from March thru the end of October we don’t have time to watch many movies..I have to admit I have had a DVD from NETFLICKS sit for 3 weeks before I had the time to watch it during the summer when I am in the garden or yard for hours.. Heck we have a cable package that is almost worthless.. I watch about 4 shows regular on MSTV and another 2 on cable IF they had a news station on MSM that told more than BIASED news I wouldn’t even need cable.. However my husband needs sports in the winter..LOL.. For the now we will use REDBOX.. however I do wish they would put them INSIDE all these 24/7 open stores instead of OUTSIDE..

    Report Post » independentvoteril  
  • Tombstone
    Posted on September 21, 2011 at 8:20am

    Just wait… Internet providers will soon be getting their grubby hands into the pie by charging by volume of use; just like they do in Europe and just like the mobile phone companies do. THEN how much will it cost to stream video content?

    Even when you buy “Unlimited” broadband in the UK, they have a “Fair Usage” policy. What is “Fair Usage” and who determines it? I’ve seen this already start to creep into the US market. Sort of like the rich need to pay “Their fair share”. What is “fair” and who determines it? Read this http://www.broadbandchoices.co.uk/fair-usage-broadband.html

    Report Post » Tombstone  
  • marine43
    Posted on September 21, 2011 at 8:06am

    Don’t care about the hike. What really bothered me , was the Marine Corps commercial above ! What the heck is happening with the Corps???????

    Report Post » marine43  
    • helluvagoodgod
      Posted on September 21, 2011 at 8:44am

      Too many women and gays. Affirmative action and politics are the reasons we cant win a war anymore.

      Report Post »  
    • cemerius
      Posted on September 21, 2011 at 1:19pm

      No idea but in 2010 when I hit my 20 I went running away from the madness…..damn corporate tactics and knives out for backs now! Imagine what our B-day Balls are going to look like now that yesterday occured?!?!

      Report Post » cemerius  
  • cjherin
    Posted on September 21, 2011 at 7:53am

    I must be among the minority, but Netflix‘s price hike didn’t really bother me. Sure, I would like to pay less, but I know they’re getting squeezed by Hollywood. I hope they can survive this mess.

    Report Post » cjherin  
    • BubbaGrump
      Posted on September 21, 2011 at 8:04am

      I tried the free trial of their streaming option, and before the 10 days was up, I had seen everything they had to offer that I was interested in, so I cancelled. Didn’t see any value for the asking price. Besides, with my $10/mo. fee to access Usenet, I get whatever I want for virtually nothing anyway. Having an 18mb pipeline doesn’t hurt, either. Just sayin’.

      Report Post » BubbaGrump  
    • time4termlimits
      Posted on September 21, 2011 at 8:08am

      You don’t know they are being squeezed by Hollywood. In addition to any pressure they may have been under by Hollywood, this was driven by greed. Shortly after the price hike was announced NetFlix said they expected to lose 6 million customers. They seemed to be comfortable with that loss because the price hike would more than make up for it. The free market will take care of NetFlix.

      Report Post »  
    • loriann12
      Posted on September 21, 2011 at 8:11am

      I’m considering dropping it…..we get the unlimited streaming with one DVD out at a time. We do that for $8.99 (plus tax, making it about $10.50). We also do the one dvd out at a time because most of what we want to watch isn’t available for streaming, only on DVD. They are changing the price to unlimited streaming is 8.99, or one dvd out at a time is 8.99 but if you want both it’s going up to 17 something plus tax. So it’s doubling or more.

      Report Post »  
    • Brizz
      Posted on September 21, 2011 at 10:21am

      Dropped them, and will NEVER go back. Their streaming content is not balanced enough. If you want to watch a film with a conservative topic, gotta wait for the DVD to ship, if they have it. If you want to watch some left/progressive propaganda, Voila!!!, its readily available. At least you can learn what the progressives want you to believe.

      Report Post » Brizz  
    • chuckn8481
      Posted on September 21, 2011 at 11:46am

      I completely disagree, I’ve seen Wallbuilders videos, movies on religion like the Book of Ruth, great stuff I watch with my family. I”ve taken advantage of the older libraries that I’ve enjoyed in the past and lots of old TV shows. It will take me and my wife quite a while to go through old Buffy reruns which she’s never seen. The Hot Air piece is a very logical explanation of what happened, they did lose STARZ last month, I missed the last two eps of Camelot. Anyhow go easy on them. I hope they pull out of this.

      Report Post »  
    • BS61
      Posted on September 21, 2011 at 12:13pm

      I won’t be streaming – the amount of streaming vs. discs is a huge difference! I was annoyed with the $4 hike/ month, but when I went out and looked at customer reviews for Blockbuster home delivery, they were all one star reviews with horrible comments. I’m pleased with Netflix service, so I’ll stick with them.

      Report Post »  
    • Brizz
      Posted on September 21, 2011 at 1:57pm

      @CHUCKN8481
      1 David Barton film = 10 PBS & 20 Michael Moore wannabe films

      Report Post » Brizz  
  • proliance
    Posted on September 21, 2011 at 7:43am

    Despite the price increase, its still a good deal. I get about four DVDs in the mail each week. That equals out to 16-20 DVDs delivered to my mailbox a month for just over $20.00.

    I don’t have cable or satellite, so the online Netflix is great for catching up on tv shows.

    Report Post » proliance  
  • samisus
    Posted on September 21, 2011 at 5:46am

    Free market all the way!!! Even if stupidity has you falling on your sword

    Report Post » samisus  
    • Holly Woods
      Posted on September 21, 2011 at 8:30am

      Netflix’s competitive edge was that they offered a great solution – BOTH dvd and streaming at a great price.

      Now instead of having one awesome service that everyone wants, they have two services that nobody wants.

      The free market means make mistakes and your free to fail. It also creates more freedom of choice for how consumers spend their entertainment dollars as competitors move in a capture Netflix’s fleeing customer base.

      Report Post »  
    • GhostOfJefferson
      Posted on September 21, 2011 at 9:10am

      Actually yes, free market all the way. The efficiency of the market will cause either Netflix to collapse or the licensing model and/or negotiations to change direction. Regardless, the most efficient model will eventually emerge. You have to think beyond short term gratification here.

      Report Post » GhostOfJefferson  
  • Muck Raker
    Posted on September 21, 2011 at 5:43am

    I quit the DVD side of things immediately upon finding out about the price hike, which angered me. We still use the stream extensively for children’s content and to watch series of older T.V. shows. That having been said the selection isn’t great. And why is it different on a ROKU box?! Ugh…if greed drives these decisions they get what they deserve.

    Report Post » Muck Raker  
  • 3NeedyKids
    Posted on September 21, 2011 at 4:30am

    I’ve never seen it mentioned, either in an article or elsewhere – but my family sure noticed – that Netflix’ streaming library really shrunk right before this split occurred. My family was just getting one DVD per month, and my three kids watched a lot of the streaming content, but all of them complained about the lack of titles just before this BIG CHANGE. So, even if you cancel one option of the two (which we are doing) you are still getting LESS for the price.

    Report Post » 3NeedyKids  
    • jcldwl
      Posted on September 21, 2011 at 5:15am

      We cancelled as soon as they announced the increase in price and now we are getting constant e-mails trying to get us back. Hey Netflix you should have considered the economic conditions before doing something stupid like this. Oh and their streaming library really did stink.

      Report Post » jcldwl  
    • Brainmuffin
      Posted on September 21, 2011 at 8:39am

      Sony pulled their content after Netflix became available via the XBox. Can’t have competition, so Sony yanked. Netflix is now between the consumers and the content providers’ licensing increases. It is a squeeze play and Netflix will most likely not survive.

      Report Post »  
    • chuckn8481
      Posted on September 21, 2011 at 11:50am

      They lost STARZ which meant losing a lot of the production companies like Disney, and the STARZ original content.

      Report Post »  
    • TPartyXpress
      Posted on September 21, 2011 at 9:18pm

      We’re pulling out, too. No STARZ, no NetFlix.

      Report Post » TPartyXpress  
  • mlcblog
    Posted on September 21, 2011 at 4:27am

    I am enjoying my old Colombo episodes, the only place I have been able to get them, but when that’s over I will probably cancel.

    The movie list is lovely but only very few of the selections are “hot” and can be played. Further, rather than the $8 per month that is still being advertised on the radio or the $!0 you mention in your column, I am being charged $16!!!

    Report Post » mlcblog  
    • 3NeedyKids
      Posted on September 21, 2011 at 4:33am

      Yep, we were, too! You’re paying for both services + tax. We cancelled the DVD half once we saw the change in price.

      Report Post » 3NeedyKids  
    • MASTER YODA
      Posted on September 21, 2011 at 12:03pm

      I don’t use pay per view, Redbox, Netflix or any other rip-off company. I buy used TV show Box sets on ebay for almost nothing and watch them when I feel like it. Right now I’m enjoying the entire FUGITIVE series with David Jannsen. Love it. Next on the list, The INVADERS. There is enough used DVD’s out there to keep me watching till I die and never have to pay a monthly fee. I won’t be told how much to pay or how long to keep it and no rate increases for me.

      Report Post » MASTER YODA  
  • DallyWama
    Posted on September 21, 2011 at 3:56am

    Interesting turn of events. I was just complaining about Redbox to my husband. Movies are constantly out (unless you want to drive across town), people take forever to rent or return movies so you have to wait (even with 3-4 kiosks), and if people are in line behind you they too get frustrated. Whoever improves on the Redbox/Netflix idea will be rich. As it stands, I’m not a fan of either (but still use Redbox).

    Report Post »  
    • mlcblog
      Posted on September 21, 2011 at 4:29am

      I know. Can you and I capture this market??!! I wish!!

      Report Post » mlcblog  
    • Zorro6821
      Posted on September 21, 2011 at 4:55am

      Netflix sees the future of DVD rentals. They will eventually go the way of cd’s, Vhs etc. Everything is going digital and instant streaming. I do understand the marketing plan, however Netflix did noit take into account the fact that most people still have slow internet connections and cannot use the streaming services. I am lucky to have roadster with blazing 50mb per second speed. I never use my DVD player. I use Roku for all my show on demand. With fibre optics speeds will soon reach 300mb per second and basically will wipe out any packaged format. All audio video entertainment will be streaming full HD 1080P. Netflix did not factor in in the competition, such as Walmart, Hula, Crackle, Amazon etc. I see a future where satellite service will also be obsolete except in rural areas. Satellite cannot offer streaming service. It is very limited and costly.

      Report Post »  
    • zman173rd
      Posted on September 22, 2011 at 10:54am

      reserve your movie online and you can select your pickup location.

      Report Post » zman173rd  
  • Firebrand
    Posted on September 21, 2011 at 2:40am

    My theory is that they are going to threaten to stop buying physical media from the studios. The studios in turn raise the price of their physical media, and once again netflix seems like a really good deal for streaming. This was a way to kill (or at least threaten to kill) the physical media part of their business. “Streaming is the future” and all that jazz will be the excuse. This all seems like political company warfare to me and Netflix is trying to posture to come out on top. The problem is that Blockbuster has a similar program. If blockbuster offered unlimited steaming and 2 blu-ray rentals for $14.99 a month….. done. They have a similar plan, but without the unlimited streaming.

    Additionally, how much money do you think will stop going to the post office? 20 million subscribers, @ 50 cents a day. 10 million dollars a day to the post office. so, 3.6 billion dollars a year in revenue to the federal government gone as soon as netflix pulls the plug.

    Report Post » Firebrand  
  • outthere
    Posted on September 21, 2011 at 2:02am

    Given the overhead costs of making, storing, shipping and replacing DVD’s… plus the uncertain future of the USPS on which they depend for delivery… it make sense that Netflix would try to make their streaming service more attractive in an attempt to get customers to switch. Fine. Understood. But to do so before the streaming library has the depth and variety of their DVD selections was just plain dumb.

    Report Post » outthere  
    • Firebrand
      Posted on September 21, 2011 at 2:43am

      Unfortunately, it‘s not Netflix’s fault that the content providers and tightening the noose on the flow of content. They don’t want to happen in the movie industry what happened in the music industry with iTunes, where Apple basically controls the flow of content and not the studios.

      Report Post » Firebrand  
    • mlcblog
      Posted on September 21, 2011 at 4:30am

      They certainly corrected their USPS costs!! We are only allowed ONE DVD now, rather than the piles of them we used to enjoy!!

      Report Post » mlcblog  
  • Bonnieblue2A
    Posted on September 21, 2011 at 1:47am

    I remember during the 2008 campaign that the CEO supported Obama and said everyone who earned over $250K should be taxed at 90%. That was all I needed to know that Netflicks would never get a dime from me!

    Report Post »  
    • mlcblog
      Posted on September 21, 2011 at 4:31am

      Shows you just how much these hippie punks know about business.

      Report Post » mlcblog  
  • Dustyluv
    Posted on September 21, 2011 at 1:47am

    I wonder how long it’s going to take for them to get in line for Government assistance? If I were them I would invent a thing called “Greenbox”. sell the idea to the Obama administration as a green friendly business and rake in the profits!

    Report Post »  
    • Zorro6821
      Posted on September 21, 2011 at 5:03am

      Netflix made a dumb move. They thought they had the market and could do what they want. They obviiously did not do their homework as Walmart announced they are getting into the action. Also Redbox and Blockbuster Kiosks are popping everywhere and the movies are only a buck. Greed always destroys companies. A simple business plan Itunes and Amazon uses is Keep your prices low and offer good service. Netflix did the opposite, Raise the prices by 60% and cut back on service….DUMB! Time to get a new CEO.

      Report Post »  
  • Zer0
    Posted on September 21, 2011 at 1:36am

    I wouldn’t let Hastings manage a lemonade stand after these series of blunders!

    Report Post »  
    • 1bambam
      Posted on September 21, 2011 at 1:43am

      I’ve had my account on hold since August and will most likely cancel my account the streaming selection is pretty lame thought I was overpaying before the hike but was willing to pay it reluctantly.. now no F-ing way will I pay the new rates,,,,bye bye

      Report Post » 1bambam  
  • ObserverMI
    Posted on September 21, 2011 at 1:14am

    I dropped both services. I wasn’t going to pay double.
    And I wasn’t going to pay for an outdated and barely entertaining library for streaming.
    Plus, I can get far more current movies from the red box 2 min away and not have to wait weeks for it to appear on Netflix or wait for it in the mail. I could watch 4 to 5 ‘current’ movies by the time I’d get one back in the mail.
    And with the Post Office limping now… thats going to hurt Netflix even more.

    They did what they did for reasons I understand. However the ‘way’ they did it, and not standing firmer with the providers of content…. they’re business fail.

    Report Post »  
    • 11:11
      Posted on September 21, 2011 at 9:48am

      totally agree, when they hiked i bailed, free market is great but if you are a business customers should be your main focus, limiting choices and jacking up the price is not the way to attract new customers and keep the ones you currently have

      Report Post » 11:11  
  • NOT A CRAZY
    Posted on September 21, 2011 at 1:04am

    If Netflix is being strongarmed by Hollywierd then they should have just said that. Oh yeah…First! Haters.

    Report Post » NOT A CRAZY  
  • Steve
    Posted on September 21, 2011 at 1:04am

    Gotta love the free market.

    Report Post »  
    • mlcblog
      Posted on September 21, 2011 at 4:28am

      FYI The free market demands honesty, not chippying your client base, if you want to stay in business. Try learning about the principles that make it work.

      Report Post » mlcblog  
    • amaboitna
      Posted on September 22, 2011 at 9:55am

      Yep. I dropped the DVD service (will use Red Box, ) kept the streaming only for my kid away at college,
      They make a business decision and then I make a business decision.

      Report Post »  
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