No one at Netflix could have been very happy with the third quarter reports that were released on Monday. 810,000 people is a big number, especially when you’re talking about lost subscribers over a three month period. I don’t think anyone can say a big loss was truly unexpected though. The PR nightmare over the last few months has been disastrous. Beginning with the extreme increase in price with no explanation, then the splitting into two companies, and the retraction of that plan, everyone is a little confused with what’s going on over at the Netflix offices.
We did get an apology from Reed Hastings (though many thought it was more awkward than anything else). In addition, the CEO told the New York Times, in an interview, that the company didn’t have a good grasp on their customer base and moved too quickly with too little information.
- Netflix Loses 800,000 Subscribers After Price Hike, Qwikster Debacle (techland.time.com)
- The Reed Hastings Qwikster Apology Tour Marches On [NetFlix] (gizmodo.com)
- Netflix Broke This Cardinal Rule, Now Pays The Price (forbes.com)
- Netflix Stock Plummets 27% Following Earnings Report (mashable.com)
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