Saw this one coming-

I know I canceled my DVD sub, and with the current offering on streaming I may not keep that now the new TV season is around.

Netflix's decision to raise prices by as much as 60 percent is turning into a horror show.

The customer backlash against the higher rates, kicking in this month, has been much harsher than Netflix Inc. anticipated. That prompted management to predict Thursday that the company --the largest U.S. video subscription service-- will end September with 600,000 fewer U.S. customers than it had in June.

It will mark just the second time in 12 years that Netflix has lost subscribers from one quarter to the next. The last downturn occurred during 2007 when Netflix lost a mere 55,000 from March through June.

The current hemorrhaging exacerbated fears that Netflix is losing the magic touch that increased its stock 10-fold in the three years leading up to the company's July 12 announcement about its higher prices.

Since then, Netflix has turned into Wall Street's equivalent of a box-office flop. Its shares plunged $39.46, or about 19 percent, to close at $169.25 on Thursday, leaving Netflix's stock price more than 40 percent below where it stood before the company unveiled the higher prices. The cost to shareholders so far: more than $6 billion in paper losses.

More... http://finance.yahoo.com/news/Higher-Netflix-prices-equals-apf-1466852939.html?x=0&.v=8

~mrmiller

I will be dropping it just as soon as I finish with Rome. July or a new comer may win my patronage. Less content+higher rates=byebye

How much are they increasing it by?

S7 Panzer wrote:How much are they increasing it by?

Netflix's decision to raise prices by as much as 60 percent is turning into a horror show.


DERP

What are some of Netflix streaming competetors?

Hulu for one but sadly I think they have worse content and you have to endure commercials even as a paid member.

S7 Wiggles78 wrote:

S7 Panzer wrote:How much are they increasing it by?

Netflix's decision to raise prices by as much as 60 percent is turning into a horror show.


DERP

As much as 60% doesn't really say a lot. I paid $15/month in the past, previous bill was $19. OMG what will I do, that is an entire chai tea I can't drink each month...

Not really a big deal to me. Buying Stargate SG-1 alone costs well over $100 so the service still pays for itself.

I just download everything from other sites if you know what I mean.

Didn't really effect me at all. I am a relative newcomer to netflix and signed up for the $8 streaming only service. No price increase for me. Don't want DVD's so it's all good.

Yeah, I wouldn't be surprised if they drop the prices again if they take another crappy quarter, especially if they continue to lose members during the holidays. We'll just have to wait and see.

Streaming only was not effected much, it was the DVD + stream that took a hit. I'm pretty sure the big gripe was the increase in price without adding anything new and actually a decrease in content (loss of Stars). Amazon streaming is gearing up, and has much of the same content as netflix, Hulu has less but newer offerings, and the cable you subscribe too probably has free VOD that has even better options but still a small volume. Red Box and the Blockbuster-by-mail services trump Netflix's new DVD structure. And most of the Netfilx die-hards were drawn to the DVD by mail, and that is the service which took the big hit. The initial thought is that netflix might loose some of that (the DVD by mail) subscriber base, but would retain most all of the streaming base. And with their growth record for streaming, it would only be a momentary dip in subscribers. It just turns out a lot who canceled their DVD by mail also dropped the streaming, and that's a big revenue hit that directly hits their bottom line and kills shareholder value. The company can still be profitable, but with a loss in the paper market, it's not as wise of an investment for shareholders. In other words, it can put them on a dangerous slope business wise.

~mrmiller

As soon as this happened earlier in the year I dropped the DVDs and went with online stream only. Thinking about dropping that portion as well.

Screw Netflix, they obviously careless about us!

Yeah, my wife and I have the streaming and 1 DVD but we're probably going to drop the DVD. We both still watch the streaming, even though we have VOD with Comcast. If we really want to get DVD's, we're pretty close to a video store chain that usually has what we want (since so few people seem to shop video stores) and we're within like a 5 min drive of both a Redbox and a Blockbuster kiosk.

The streaming service itself is actually causing a lot of issues with ISP's. Since it's coded to use as much bandwidth as is available on top of drawing in far more people to video streaming it's really pushing the industry towards data caps or 'pay by usage' plans. I don't think many ISP's will implement that style of plan soon but with new lines needing to be purchased to support the massive use its only a matter of time.

I honestly don't use netflix as much anymore personally. I use Xfinity on-demand a lot more now and probably could get by with just that and the occasional redbox night. I still go to the movies for anything just coming out and that won't end anytime soon (going to see "Drive" this weekend). I guess what I'm trying to say is Netflix has made themselves irrelevant in my life now....too bad, use to love it.

Yeah I'll be dropping both, I signed up for free trial with Blockbuster 9.99 month for streaming and DVD. Plus the content is newer and sooner than Netflix.

The sky is falling.

This explains it more clearly than anything else I have read-







~mrmiller