Netflix taking a HUGE BEATING today, down $41 at the moment!
 

Wow, they fucked up huge on their last move.


http://finance.yahoo.com/q?s=NFLX

Sure wish I was shorting them. Thought about it, but didn't want to get back in the market.

"Those moves caused more than 800,000 subscribers to flee in the third quarter and removed a lot of goodwill with investors.

Read more: http://online.wsj.com/article/SB10001424052970204777904576652952632117630.html#i xzz1boUtZjPF"

ouch!!!

Wow, that's just sad....

it will go back up. time to buy if you want to make some $$ :2 cents:

yeah I had my account inactive and decided to start it back up and the next charge I got was way more and when I logged in to see what happened they had me on like two plans, a dvd rental plan and then the streaming was seperate and additional when it used to be all one fee for like 15 bucks.

It was like they didn't just raise the price, they made the streaming seperate and added a fee on when it was some free shit I didn't even use on my account. They sure did fuck up. lol

So fuck them, I canceled again. lol assholes

i was thinking that yesterday myself.. good thing i procrastinate.. hehe

They sure pissed off a lot of people..fuck em

The Netflix stock skyrocketed after Citigroup upgraded their stock. I bet Citigroup made a killing!

They lost 800K subscribers and doubled their costs to acquire content in one quarter. At $300, this was a screaming short, but I still believe it will be $50-55 by end of year/Q1 in 2012.

I don't even know why I have Netflix. I rarely use the streaming on my TV or computer.

I have six redBoxes in town, plus an awesome mom and pop old school vid store one block from my house. It's the only one left in town after all the Blockbusters closed.

I think Netflix made a bad move, but they're also falling victim to expanding options for people to get content. VUDU, Amazon -- and the big one(which I use mostly) Cable OnDemand. Then you have the scumbags that download everything from torrents.

Yes because renting up to 7 DVDs a month for $2 was a money maker. Are you sure you are in business? The idiots are the ones bithcing baout the price increase and getting all panicy. If no one panics Netflix's stock wouldn't have fallen. So who really is the idiot? Just because some mentally retarded kid colors the sky purple in his coloring book doesn't mean the sky is purple. It means the kid is a retard.

you're an idiot. DVD and streaming have been seprated for nearly 2 months now and it was announced back in July. Sorry you still can't get almost free shit. Perhaps you can sell some of your food stamps to make up the $6 difference.

Really?

"Though the big subscriber loss is significant, total U.S. subscribers are still up an impressive 42% from a year ago. Total company revenue gained 49% year-over-year, while profit per share jumped 66%. To be sure, this isn't a dead company walking." source

haha, nice :thumbsup

Ya, that's what they offered, 7 DVDs a month for $2, pull your head out of your ass. Losing 800,000 subscribers in 2 months is brutal, doubling and tripling the cost for buying the rights to future content in the same time frame is creating a bad business model moving forward. If you think any of this is good, I'll have to ask you the same question, are you sure you're in business?

All of the negative stuff just started happening in the past 60 days. Let's see how they are looking a year from now. None of that means dick when you are making consistently bad moves in the recent past and then continue to do so.

pretty sure I posted to short the stock when it was at $150

the bill for bandwidth is killing them

Probably doesn't help that there is a big ass front page article on ABCnews.com saying "is netfilix finished?". Probably same shit on every other news/stock site out there as well.

I'm gonna be pissed if they go out of business now and I can't stream movies because a bunch of whiny bastards can't pay an extra few dollars.

Thanks for quoting me, I love it when people expend their energy on my idiocy. :1orglaugh

Good, they deserve it! I've never been with NetFlix but it's good to teach major companies a lesson, you can only push the public so much before there's pushback. Hopefully other companies get the same fate :2 cents:

The aspect of this most are missing is that Netflix basically has NO choice other than to dramatically raise rates to remain in business - content producers, such as Starz, are now demanding far more for licensing content for streaming.

Netflix can legally rent DVDs without the studios approval with no licensing fees.

However, Netflix can NOT legally stream content without prior approval / paying licensing fees to content producers.

Bottom line is content producers have Netflix over a barrel when it comes to streaming. Netflix isn't raising prices out of greed, but rather for survival.

And to make matters worse for Netflix, there are numerous competitors nipping at their heels with far more cash to burn to license content, in particular, Amazon.

Ron

Most of this didnt come out of the blue it was known for quite a while and written about in many articles over the last 6 months that the owners of major content supply contracts that are expiring intended to up the price dramatically due to the fact Netflix got a steal of a deal when they first signed them. Other companies also stated that they too also intended to charge Netflix a small fortune for future content.

Netflix relies on buying content and thats its biggest weakness.


Combine the above with the loss of subscribers and it wasnt really a surprise , just a matter of when.

Netflix thought they were invincible. A billion dollar mistake.

I've had Netflix for about a year and love it, use it at least 5 times a week. I hope they don't go under but I'm glad they got bit in the ass for this stunt.

I stopped my account. They went and messed with a good thing.

Most likely I'll join back in awhile. I'm just so busy with hbo go watching a bunch of shows I never saw. So after all of Oz, Six feet under, and other shows I'll go back. Until then though it's a waste for me. I'd probably have left it had they not changed shit though.

I've been thinking of cancelling my membership with them but since I enjoy the movies that are streamed to my Roku box, I will stay with them for the time being.

Although, if their prices go higher, I will cancel based soley on the fact that they are being greedy fucking bastards.

Well let's see, I'm a streaming customer only. Before Sept I could have added on 1 DVD a a time for $2 a month extra. Now with 1 DVD at a time it's possible to rent up to 7 DVDs a month. So where am I wrong? And how would Netflix make any money off the DVD part by charging me just $2 a month for 7 DVDs? I'm surprised they can do it at $8.


800,000 out of 24 million. That's 3%. Also most were on the DVD side. And most of those were 1 DVD at a time people which is a money loser for Netflix. Trust me Netflix makes MUCH more money form the people paying $8 for streaming that they do from the people that pay $8 for DVDs. Netflix is trying to move away from DVDs. They called themselves NETflix not MAILflix. And if those 800,000 retards think they'll be geting a better deal somewhere else they are in for a shock. Redbox charges $1 per DVD. Blockbuster cheapest DVD plan is $10 a month. No streaming option included.

Also funny how they lost 800,00 customers yet.....

Earnings rose to $62 million, or $1.16 per share, compared to $38 million, or $0.70 per share, in last year's third quarter.

yea real bad move.

Exactly what did Netflix do wrong? Not give shit out for free? Like welfare and foodstamps? You give YOUR shit out for FREE? Nope.

If you have been streaming only your price didn't go up AT ALL. So I'm not sure where you get that you got some price increase. Netflix greedy? Funny how charging more than $8 a month for all of Netflix content is "greedy" charging $40 a month for a paysite with MUCH less content is just doing good business.

The greedy ones are the Hollywood studios and that's where any anger should be directed. Not Netflix.

Here's some FACTS on the Starz deal.

Netflix had been paying $30 mil a year. Contract ends in February 2012. Netflix offered $250 mil a year to Starz. A 8 fold increase. Starz said no. They wanted $300 mil AND they only wanted their content offered to those customers that had BOTH the streaming and DVD packages. In other words Starz wanted to make sure you paid $16 a month to access their content on Netflix. Yet somehow NETFLIX is the bad guy in this.

You know I'm sure plenty of morons out there would think it'd be great for McDonald's to charge only 25 cents for a McRibb. Guess what, it's NOT from a business standpoint. Now I expect the igorant, uneducated general public to not get this. I'm shocked to see so many "business" people here that don't.

It's more about the studios getting their way. They don't want content streaming... They raised the price so bad that it gave netflix no other choice.

The PR was badly handled, and maybe to honest and messy.

There are no other viable options right now so people will probably come back. It's a great product and it's cheap.

Says the person that charges $25 a month.

That part I agree on. Also they should have wait 6 more months before dividing up the streaming and DVD into seperate sites so people could get over the mostly mythical "60%" price increase. Also the new name was dumb. The end game of seperating the two was to sell off the DVD part to some idiot that still thinks there is money in that for a few billion. Sometimes customers are there own worst enemy. Customers want more and newer streaming content and when Netflix does the things to make that happen customers bitch.

$29 on some sites :thumbsup

Exactly. Let it plummet some more and start buying..

CNN news ( 4 months ago)

"Netflix has another year or two on most of these contracts, and then the game completely changes," says Michael Pachter, analyst at Wedbush Securities.

Pachter predicts Netflix's streaming content licensing costs will rise from $180 million in 2010 to a whopping $1.98 billion in 2012.

When streaming video was new, Netflix was able to secure contracts with the likes of Warner Bros. Studios and MTV to license big TV and film catalogues for about $5 million to $10 million per year. This time around, Pachter says, those costs could increase more than tenfold.


I think Netflix will be taken over in 2012 by a big media corp , cant see it surviving without some sort of hook up.

with that being said, would you say that stock is under valued now? or is it going to stay where it is? after the hype dies.

Well if the CEO would just keep his mouth shut for awhile it might go back up sooner rather than later. Unvervalued? I didn't think it was worth $300 to begin with.

I love netflix but I never use it.