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April 2, 2013
20:05 // 1 year ago
July 6, 2012
Investigative Journalism: A billion hours on Netflix, in Law & Order terms
Remember how everyone freaked out that Netflix was down over the weekend due to a power outage? There’s a good reason for that: Everyone was more hooked than usual last month. June was the video streaming service’s biggest month ever — they topped a billion viewing hours, according to CEO Reed Hastings, which in layman’s terms is a freaking lot. By those stats, every user watched Netflix streaming 80 minutes a day last month, according to one estimate. Viewing is poised to increase as Netflix’s original programming, including a new season of Arrested Development, expands. To put this in realistic terms, we tried to explain what a billion hours means in a way that everyone would understand: In Law & Order terms. Dun dun.
7,042,254 number of times you could watch the first eight seasons of “Law & Order” on Netflix, if given a billion hours; Lennie Briscoe would approve, even though it’s not even half the series
5,128,205 number of times you could watch Christopher “Detective Dreamy” Meloni do his thing on “Law & Order SVU”; unlike the original, Netflix has all twelve seasons source
» Bonus: Criminal Intent! Because a reader asked below about “Law and Order: Criminal Intent,” we did the math on that, too. You could watch Vincent D’Onofrio’s meal ticket 7,029,382 times, if given a billion hours.
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Remember how everyone freaked out that Netflix was down over the weekend due to a power outage? There’s a good reason for that: Everyone was more hooked than usual last month. June was the video streaming service’s biggest month ever — they topped a billion viewing hours, according to CEO Reed Hastings, which in layman’s terms is a freaking lot. By those stats, every user watched Netflix streaming 80 minutes a day last month, according to one estimate. Viewing is poised to increase as Netflix’s original programming, including a new season of Arrested Development, expands. To put this in realistic terms, we tried to explain what a billion hours means in a way that everyone would understand: In Law & Order terms. Dun dun.

  • 7,042,254 number of times you could watch the first eight seasons of “Law & Order” on Netflix, if given a billion hours; Lennie Briscoe would approve, even though it’s not even half the series
  • 5,128,205 number of times you could watch Christopher “Detective Dreamy” Meloni do his thing on “Law & Order SVU”; unlike the original, Netflix has all twelve seasons source

» Bonus: Criminal Intent! Because a reader asked below about “Law and Order: Criminal Intent,” we did the math on that, too. You could watch Vincent D’Onofrio’s meal ticket 7,029,382 times, if given a billion hours.

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13:29 // 2 years ago
April 15, 2012
21:54 // 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

On whether Netflix will be damaged by its current issues

legospaceship asks: 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.

» SFB says: I wouldn’t be so sure it’s a complete non-issue. This isn’t to say they’re going away anytime soon, but they’ve lost nearly three quarters of their market value in just a few months — that could lead to a change at the top. They’ve hurt their customer relations pretty severely in that time, and while they can get it back eventually, they’re starting fo face more difficult factors which could hurt their business over time. The costs for their streaming business are rising. There’s a chance they’ll see some significant competition in the next year or two (Dish Network and Hulu are each currently in the midst of an upswing, and Dish has content deals comparable to Netflix, including the Starz deal Netflix is losing). The real question is, can they bounce back? — Ernie @ SFB

20:13 // 2 years ago

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
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 // 3 years ago
September 19, 2011
2:16 // 3 years ago
In hindsight, I slid into arrogance based upon past success. We have done very well for a long time by steadily improving our service, without doing much CEO communication. Inside Netflix I say, ‘Actions speak louder than words,’ and we should just keep improving our service. But now I see that given the huge changes we have been recently making, I should have personally given a full justification to our members of why we are separating DVD and streaming, and charging for both. It wouldn’t have changed the price increase, but it would have been the right thing to do.
Netflix CEO Reed Hastings • In a lengthy apology he wrote on the Netflix blog. Let’s repeat that first sentence again: "In hindsight, I slid into arrogance based upon past success." That sounds like a quote for the ages, the famous last words for many a company.
1:25 // 3 years ago