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Netflix’s downward slide continues: Investors hate them even more now

  • 800,000 fewer folks give Netflix money source

» Oh, and it gets worse: The once-high-flying company now has 99 problems, and a shrinking stock price is one — one that dipped 26 percent in after-hours trading today. The company — which recently raised the cost of its legacy DVD plan, tried to split off DVDs into a separate site and then backed off after everyone hated it — also informed investors today that it would have a couple of unprofitable quarters as it expanded into the UK and Ireland. ”We expect the costs of our entry into the UK and Ireland will push us to be unprofitable on a global basis; that is, domestic profits will not be large enough to both cover international investments and pay for global G&A and technology and development,” the company said. CEO Reed Hastings blamed the drop in subscribers on the price increase.

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October 24, 2011 // 19:48 // 2 years ago
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38 notes from really cool Tumblrs like ours. Click to read.

  1. vestidos-2012 reblogged this from genericlatino
  2. silas216 reblogged this from shortformblog and added:
    [UNINFORMED OPINION AHEAD] As much as I’d love to blame Netflix for their recent stupid moves (and you should hear the...
  3. austinvegas reblogged this from shortformblog and added:
    I’m one of them (that dropped them).
  4. jamie-reads-thenews reblogged this from shortformblog
  5. relaytheu said: I didn’t drop Netflix because of the money, I dropped them because they hadn’t added anything compelling to their instant library in months (at the time of my departure). Meanwhile, Amazon has been adding content and cuts students a deal..
  6. afrofuturismscholar reblogged this from shortformblog and added:
    If pushing into European markets are unprofitable, why do it—especially since Netflix clearly needs to reinvest in its...
  7. afrofuturismscholar said: If pushing into European markets are unprofitable, why do it—especially since Netflix clearly needs to reinvest in its domestic market and repair the damage from its own greed?
  8. trebaolofarabia reblogged this from genericlatino and added:
    I feel bad for Netflix because their problem isn’t with the service, it’s with the companies that own all these films....
  9. joshsternberg reblogged this from shortformblog and added:
    We wouldn’t have this problem (and by this problem, I mean our economic malady) if we just kept visiting Blockbuster. Go...
  10. legospaceship said: Don’t you think it’s a non issue, ultimately? Can you see the core of their streaming business going anywhere? I don’t see any other folks in the space being able to rise up and challenge them right now unless i am missing something.
  11. andrewjrichards said: yikes… it feels like very soon netflix will shut down…
  12. jensprink reblogged this from shortformblog
  13. johngushue reblogged this from shortformblog
  14. shortformblog posted this