Apparently one million former subscribers agree with us, having quit Netflix since it implemented its 60% price increase in July. Netflix’x stock price declined 19% when they announced this yesterday.
Original Post 7-14-11:
We decided to cancel our Netflix subscription, after being highly satisfied customers for years, because it decided to raise its subscription fees 60% this week. Given our very difficult economy, and the long-term competitive and technological forces that will only increase options for consumers to find their video entertainment elsewhere, I can only assume that Netflix is planning on maximizing its short term profits. I’ll be curious to see Netflix’s financials over the coming year. In the meantime, because they forgot that we were customers of theirs and not shareholders, we’re leaving.