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Netflix Sorry You're Angry, But Doubts You'll Cancel
Also Announces New Plans For Facebook, But Not in U.S.
by Karl Bode 11:04AM Tuesday Jul 26 2011 Tipped by pianotech See Profile
While Netflix's recent round of rate hikes up to 60% upset many customers, the company doesn't think most subscribers will cancel. "Some subscribers will cancel Netflix or downgrade their Netflix plans," the company said in a note to investors. "We expect most to stay with us because each of our $7.99 plans is an incredible value. We hate making our subscribers upset with us, but we feel like we provide a fantastic service and we're working hard to further improve the quality and range of our streaming content in (the fourth quarter) and beyond." As we've previously noted, Netflix is raising rates in part due to Hollywood, who fearing the company's growing distribution influence is preparing to jack up licensing rates substantially. After announcing their earnings, Netflix also announced that they'd be bringing video integration to Facebook -- just not in the United States where Netflix says they're concerned about legal uncertainty surrounding video sharing.

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Big Dawg 23

Northfield, MN

2 recommendations

reply to PhoenixDown

Re: Too Late

People need to direct the Anger where it should.... Movie and TV Studios. Anyone that thinks Netflix did this to raise cash are idiots.