NEWSTALK 860 » netflix

Netflix Loses 800K Subscribers in Third Quarter

Kathy Landin — Tue, 25 Oct 2011 18:06:22 +0000

Netflix, the one-time master of customer service, just can’t seem to get it right anymore. On Monday, the video rental giant revealed in its third quarter report that it has lost about 800,000 subscribers since June, and the company expects to lose more in the coming months.

Netflix Scraps Idea for Qwikster DVD-by-Mail Service

Shauna Wright — Mon, 10 Oct 2011 16:31:21 +0000

Netflix has been doing so much backpedaling lately, it’s surprising the company hasn’t adopted a bicycle for its logo.

In the most recent reversal, Netflix announced Monday that it’s scrapping a plan to split its streaming and DVD-by-mail services into two different companies and would instead keep both under the Netflix name. The abandoned idea would’ve seen the mailed DVD service take on the name Qwikster, with a separate website and separate billing.

Netflix CEO Apologizes for Rate Increase, Announces Company Will Split Into Two Divisions

Shauna Wright — Mon, 19 Sep 2011 18:10:51 +0000

In the wake of unpopular rate increases that caused customers to cancel subscriptions in droves and resulted in the company stock nosediving, Netflix CEO Reed Hastings apologized in a blog post on Sunday.

“I messed up,” he said. “I owe everyone an explanation … In hindsight, I slid into arrogance based upon past success.”