Tag Archives: netflix price increase

In the News! Netflix Stock: Overall Steady Decline

15 Jul

Since announcing an upcoming price increase of subscription fees, Netflix shares officially rose by 0.31 points, or 0.11 percent, after closing at $286.93, on the NASDAQ Stock Market Friday, July 15th, 2011. Netflix shares managed to stay out of the negative after experiencing an all day decrease in value.

An overall stock decline following the shocking announcement on July 12th, 2011 brings Netflix shares down a total of -3.81 points and -1.31% in just four days. TradersHuddle.com reports of investors cashing in profits as the future of investing in Netflix’s stock may be uncertain. Continue reading

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In the News! Netflix Further Snubs Their Customers!

13 Jul

 

Today on July 13th, 2011, Netflix’s Vice President of Corporate Communications Steve Swasey, issued a formal statement to MSNBC following a monumental social media outrage with the company. After yesterday’s announcement of subscription price increases, and over hundreds of thousands unhappy customers all voicing their displeasure via social networks and customer service lines, many reporters were unable to reach Netflix for comment. MSNBC’s Technolog acquired an exclusive statement on behalf of Netflix which addresses and minimizes customer concerns:

He said the timing of the price change was “appropriate” and that “$6 more is a remarkable value, a latte or two every month. For most folks it’s absorbable,” adding Netflix was “sympathetic to those in terrible financial straits.” But, he said, the reaction was “expected.” “We anticipated some folks were not going be happy with the change. It didn’t surprise us.” Continue reading

In the News! Netflix to Increase Subscription Fees

12 Jul

A longtime leading giant of movie rentals and streaming, Netflix, has announced a second increase in subscription prices for the year 2011. Vice President of Marketing Jessie Becker made the official announcement on the Netflix.com blog, citing “lowest prices ever” and at the same time slapping his longtime, dedicated customers in their faces. Earlier this year, price increases imposed on all Netflix subscriptions promised the expansion of streaming movie content. The first increase was justified by outrageous demands of movie studio and production company license costs. Customers did not seem very put off by the initial price hikes as long as their services continued to improve.

Five months later, an official blog post revealed removal of member review features, de-personalized the user experience, and introduced the launch of a new website interface. The updated website changes caused an uproar of Netflix blog comments, reaching capacity of over 5,000 dissatisfied customer complaints pleading for the website to be reverted back as the changes were not very user friendly. Despite thousands of objections regarding the new website interface, Netflix ignored their entire customer base, and made no apologies or announcements regarding user concerns. Adding insult to injury, on June 17th Pauline Fischer, VP of Content Acquisition, announced a temporary removal of Sony Movies from streaming service as a result of a “temporary contract issue between Sony and Starz,” and in the following weeks, certain customer favorite shows and movies were slowly removed from instant streaming play right from under user’s noses. Continue reading