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January 25, 2012

Netflix recovers subscribers in fourth business quarter

  • 651,000 new Netflix subscribers in their fourth  quarter, a nice recovery since last year’s Qwikster/price hike exodus
  • 800,000 subscribers they lost over that series of flaps and foibles — still some fence-mending to be done source
21:32 // 2 years ago
December 23, 2011

Reed Hastings punished financially for Netflix’s sucky year

  • $1.5 million chopped off his stock options in 2012 source

» Merry Christmas, screwup: The Netflix CEO, who oversaw a months-long decline in his company’s stock price in the wake of customer-angering moves, lost half of his stock options for next year — from $3 million to $1.5 million. The company will likely face its first net loss in more than a decade next year, due in part to lost subscribers.

14:11 // 2 years ago
October 25, 2011

Netflix’s stock, then and now: A steep, severe drop

  • $304.79 Netflix’s stock price on July 13, the day after they announced their unpopular price changes
  • $76 Netflix’s stock price as of this morning; it’s down more than 75 percent since July alone source

» How hard will moving forward be? During yesterday’s earning report, Netflix’s CEO, Reed Hastings explained off his company’s tough year like this: “We made a couple of big mistakes this year. It’s up to us to own up to those mistakes and to move forward.” But will owning up to those mistakes be enough to stop the bleeding amongst investors? A 75 percent drop in three months — when your stock is worth more than $300 — is just insane. It dropped 36 percent today alone. If you think Netflix is going to bounce back, though, now’s the time to buy their stock.

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10:58 // 2 years ago
October 24, 2011

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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19:48 // 2 years ago
October 10, 2011
Give consumers what they want, your stock price rises. How crazy is that, Netflix? Too bad you had to piss them off in the first place.

Give consumers what they want, your stock price rises. How crazy is that, Netflix? Too bad you had to piss them off in the first place.

8:31 // 2 years ago
It is clear that for many of our members two websites would make things more difficult, so we are going to keep Netflix as one place to go for streaming and DVDs. This means no change: one website, one account, one password… in other words, no Qwikster.
Reed Hastings • In a very short post on the Netflix blog about the about-face his company did regarding Qwikster. He added: “While the July price change was necessary, we are now done with price changes.” That’s all you needed to say.
8:26 // 2 years ago
Not so fas … er … Qwikster. Netflix just ditched its idiotic plan to split up its two halves into two literal companies. Good for them. It was a stupid move. “We underestimated the appeal of the single web site and a single service,” noted Netflix spokesman Steve Swasey. “We greatly underestimated it.” Guess some stoner suddenly has a useless Twitter account. EDIT: It should be noted that Hastings declined an interview request for Brian Stelter’s article.

Not so fas … er … Qwikster. Netflix just ditched its idiotic plan to split up its two halves into two literal companies. Good for them. It was a stupid move. “We underestimated the appeal of the single web site and a single service,” noted Netflix spokesman Steve Swasey. “We greatly underestimated it.” Guess some stoner suddenly has a useless Twitter account. EDIT: It should be noted that Hastings declined an interview request for Brian Stelter’s article.

8:11 // 2 years ago
October 3, 2011
Netflix/Qwikster update: Without revealing anything, Netflix’s list of top-rented movies is really freaking depressing for you movie connoisseurs. The number one movie in particular. BTW, if you want a good laugh at the expense of the quickly changing company, you can’t do wrong with this cut-for-time SNL sketch, which falls apart in the last minute but is otherwise solid.

Netflix/Qwikster update: Without revealing anything, Netflix’s list of top-rented movies is really freaking depressing for you movie connoisseurs. The number one movie in particular. BTW, if you want a good laugh at the expense of the quickly changing company, you can’t do wrong with this cut-for-time SNL sketch, which falls apart in the last minute but is otherwise solid.

23:56 // 2 years ago
September 24, 2011

Dish Network’s Netflix killer has catch that limits its killing abilities

  • yeah … Dish Network’s new Netflix competitor — based around the recently-acquired Blockbuster brand — offers 100,000 DVDs by mail and 4,000 streaming films for $10 a month. Considering the current status of Netflix and Qwikster, the time is now.
  • … but You have to be a Dish Network subscriber to take advantage of this deal, which seems like a major mess-up on the part of Dish. (They are offering a deal to get it for free for a year, for new subscribers.) Timing is on your side, guys! Do something smart! source

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12:33 // 2 years ago
September 21, 2011
Considering the news of late, this e-mail I got tonight is utterly hilarious. It reeks of — oh, what’s the word? — desperation. It’s a smartly-timed e-mail, though, and based on Twitter, one numerous people are getting this evening. Think it’ll work out for them? And did anyone else get this e-mail? (For those wondering: I once subscribed but no longer do; I don’t have to, because I live vicariously through my girlfriend’s queue. She’s a heavy user and goes through about a dozen DVDs a month, on top of streaming.) — Ernie @ SFB

Considering the news of late, this e-mail I got tonight is utterly hilarious. It reeks of — oh, what’s the word? — desperation. It’s a smartly-timed e-mail, though, and based on Twitter, one numerous people are getting this evening. Think it’ll work out for them? And did anyone else get this e-mail? (For those wondering: I once subscribed but no longer do; I don’t have to, because I live vicariously through my girlfriend’s queue. She’s a heavy user and goes through about a dozen DVDs a month, on top of streaming.) — Ernie @ SFB

0:41 // 2 years ago