Netflix Expects 1 Million Subscribers Less Since Price Hike

Written by John Ponio    Thursday, 15 September 2011 16:21

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Netflix announced recently that their new price hike is turning off around 1 million subscribers. Surprisingly, they haven't altered their financial estimates, which means that the new pricing isn't doing all that much for them now except greatly devaluing their stock. Earlier this summer it was up around $300, but it ended today (September 16) at $169.25 according to Google Finance. Netflix is sticking by their decision to change around their pricing, though, in the belief that it's the best long-term strategy for both the quality of their service as well as their profits. You can read more about it here.