Netflix Loses 800,000 Subscribers

One business decisions can make or break a business and today it was announced that Netflix lost 800,000 subscribers in the third quarter.

Netflix expects to post losses next year when it starts selling it’s streaming movie service in Britain and Ireland.

Netflix’s stock price have fallen below $100 in nearly 14 months. Netflix shares shed $32.01, or nearly 27 percent, to $86.83 in Monday’s extended trading.

As one reader put it:

That is exactly what Netflix gets for being greedy in an economy that is already going down hill. Some people are already having a hard time trying to keep up in this economy and then Netflix raises prices to counter act their loss and it back fired. People want entertainment but at a reasonable cost. Hey Netflix your selection isn’t that great unless you have movies come in the mail. The view at home option sucks.

The company, which is based in Los Gatos, ended September with 23.8 million U.S. subscribers, down about 800,000 from June. Netflix had predicted it would lose about 600,000 U.S. subscribers in a forecast released last month.

See full article on Yahoo Finance

Source: Associated Press and Yahoo Financial