Thursday, September 15, 2011
"The customer backlash against the higher rates, kicking in this month, has been much harsher than Netflix Inc. anticipated. That prompted management to predict Thursday that the company --the largest U.S. video subscription service-- will end September with 600,000 fewer U.S. customers than it had in June."
What did they think? That an America, in the grips of a bad economy, poor jobs outlook, and crippling unemployment, would shell out two times the amount of money for movies? Yeah, streaming is nice, but really, I can do without it. What with RedBox having $1 movies, and Blockbuster discounting their services, It just isn't that important, especially since some folks can barely afford to keep their internet up an running what with all the cable & phone companies upping their service fees as well.
Hope Netflix enjoys the mass exodus!