NETFLIX SHARES PLUNGE
July 25, 2012 by admin · Leave a Comment
Shares of Netflix were down 25 percent on the Nasdaq near the close of trading today (Wednesday) following the company’s after-hours report on Tuesday that its net income for the second quarter was down 91 percent from the same quarter a year ago. The company said that it added 530,000 subscribers to its streaming service […]
NETFLIX ABORTS QWIKSTER
October 10, 2011 by admin · Leave a Comment
Responding to the continuing outcry and subscriber losses resulting from his announced plans to separate Netflix’s streaming and DVDs-by-mail services, Netflix chief Reed Hastings announced today (Monday) that the company had decided to abandon those plans. There will be no Qwikster. Instead, said Hastings in a blog post, “U.S. members will continue to use one […]
EBERT DEFENDS NETFLIX CHANGES
September 23, 2011 by admin · Leave a Comment
After weeks of being raked over the coals for his decision to increase Netflix’s fees to subscribers and split his company into separate streaming and DVD-by-mail units, Netflix CEO Reed Hastings is finally getting some decent reviews. Among them is Roger Ebert’s in the Chicago Sun-Times. “Netflix has done what it had to do,” he […]
STUDY: A THIRD OF NETFLIX’S SUBSCRIBERS MAY FLEE
September 21, 2011 by admin · 6 Comments
Netflix could lose nearly a third of its subscribers as a result of its recent rate hike, according to a survey conducted by Marion, Iowa-based Frank N. Magid Associates. Some 16 percent have definite plans to cancel, according to the survey, while an additional 14 percent said they are seriously considering canceling. The survey was […]
NETFLIX BATTERED AGAIN
September 20, 2011 by admin · 2 Comments
Subscriber outrage over the decision by Netflix to spin off its DVD-by-mail business into a new company called Qwikster flooded movie-related websites on Monday, as shares in the company continued to plunge. In late trading today (Tuesday) they were down more than 8.52 percent to $131.50, hitting a 52-week low. In July they had hit […]
NETFLIX SHOOTS ITS OTHER FOOT
September 19, 2011 by admin · Leave a Comment
Those square red envelopes that have long identified Netflix DVD deliveries will soon be replaced by ones bearing the logo “Qwikster,” Netflix CEO Reed Hastings said on Sunday as he posted a public apology about recent moves by the company that have driven away a million subscribers and driven down its stock. Hastings said that […]
