Yes, that’s the actual 3-month stock drop from Netflix current as of today. Remember when Netflix announced a 60% price increase? We all knew that would be a big mistake. Netflix tried to announce Qwikster, which of course failed. CEO Reed Hastings has apologized for nearly everything he has decided to do lately.
It’s getting old, really, and Netflix has declined since faster than it has ever grown. Their shares traded around $75 for the first time in 18 months, a 36% plunge Tuesday that continues a dramatic tumble that has erased about $12 billion from the company’s market value in just 104 days. Continue reading “Is Netflix done?” Is Netflix done?
Netflix has abandoned their Qwikster plans, and will now be on the Vizio tablet a few weeks after Hulu was added for additional movies & television streaming options. I had figured Netflix was already on the tablet as part of the original build, since the Vizio televisions with VIA (Vizio Internet Applications) all come pre-loaded. But now, it’s there.
However it’s too bad nearly everyone canceled their Netflix accounts due to the 60% price hike; and if you did keep Netflix around, I hope you’re enjoying fewer streaming options than you previously had.
Unfortunately, I’m one of those account cancelers. And to boot, they completely cleared my DVD and instant queues, leading to my decision to likely never come back.
So here we are, with Netflix plunging as I blogged before, Reed Hastings is flailing to keep customers. Oops. Reed sent me a personal e-mail (and to millions of others, I might add =p) trying to explain his vision in raising prices 60%, and then clearing out your DVD queues and forcing you to utilize a new website, Quikster.
I messed up. I owe you an explanation.
It is clear from the feedback over the past two months that many members felt we lacked respect and humility in the way we announced the separation of DVD and streaming and the price changes. That was certainly not our intent, and I offer my sincere apology. Let me explain what we are doing. Continue reading “Netflix apologizes” Netflix apologizes