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Bye bye Netflix

dante

Unabomber
Feb 13, 2004
8,807
9
looking for classic NE singletrack
If a change of $6 a month puts you in such a financial bind that you're contemplating dropping this service and cable altogether, I highly suggest you find a new job/career/lifestyle.

Or, drop the DVD/streaming options to get a cheaper rate.
Financial bind? Nope. Enough to make me stop and take value of it's worth to me? Oh, absolutely. Already dropped our cable TV which was $85/month. Plan on using that $1,000 (per year) to almost cover a Caribbean vacation next winter (flying down on miles). Almost $200/year for Netflix? No thanks, we'll put that money to use somewhere else...
 

jonKranked

Detective Dookie
Nov 10, 2005
85,178
23,829
media blackout
Was coincidentally reading about this today.

More interesting was the comments section section.

Was looking at a PS3 or an Xbox for just that, might have to reconsider my options.
one thing i want to mention, the quantity of hd streaming titles has been increasing pretty steadily. i think part of this issue was that a lot of the original titles that were in the streaming library were older movies and as such weren't available in HD to begin with. Now that they're adding newer movies (subsequently also available in hd formats) the amount of streaming hd titles is increasing.



If a change of $6 a month puts you in such a financial bind that you're contemplating dropping this service and cable altogether, I highly suggest you find a new job/career/lifestyle.
this*

worth noting cheapskate dante has already dropped cable
 

Ithnu

Monkey
Jul 16, 2007
961
0
Denver
That whitewhine website is awesome.

Remember when we had to drive (who walks right?) to the movie store and interact with people to rent video tapes??? And get charged for not rewinding them??? And now when we watch them from the couch we have to click buttons on the remote, why can't they just use my government mind chip to KNOW what I want?

 

kazlx

Patches O'Houlihan
Aug 7, 2006
6,985
1,957
Tustin, CA
I'm sure it ties back to the studios being greedy, but I just don't think the streaming is worth it. Once I can get most of the content streamed, I will just continue to get the DVDs. Unless you want to watch every South Park, some old B movie or more documentaries than you can shake a stick at, theres not much to watch on the streaming.
 

jonKranked

Detective Dookie
Nov 10, 2005
85,178
23,829
media blackout
I'm sure it ties back to the studios being greedy, but I just don't think the streaming is worth it. Once I can get most of the content streamed, I will just continue to get the DVDs. Unless you want to watch every South Park, some old B movie or more documentaries than you can shake a stick at, theres not much to watch on the streaming.
this price increase is pretty much solely driven by the cost of licensing agreements with studios.

also, netflix is also beginning to develop and produce its own content, which will be exclusive to netflix streaming.

rumor has it that dave chappelle is also in talks to have another show, and it will be exclusive to an online service like netflix or hulu
 

kazlx

Patches O'Houlihan
Aug 7, 2006
6,985
1,957
Tustin, CA
this price increase is pretty much solely driven by the cost of licensing agreements with studios.

also, netflix is also beginning to develop and produce its own content, which will be exclusive to netflix streaming.

rumor has it that dave chappelle is also in talks to have another show, and it will be exclusive to an online service like netflix or hulu
Licensing has to be the bulk of their cost. I know most of the studios are scared of the idea that DVDs could go extinct, so they are scrambling to figure out how to make their money after the theaters.

$8 is still pretty reasonable for unlimited streaming and when you figure most people were paying $5 a rental from Blockbuster, $12 for two discs out at a time isn't unreasonable either. I'll probably just drop the streaming because I hardly ever use it.

It will be a game changer when they start streaming everything. Then I would gladly pay $20-30 month to be able to watch anything. HBO and Showtime are the biggest ripoffs when you pay $20-30 extra a month to have the same damn movie play for three months straight.
 

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
39,923
16,249
Riding the baggage carousel.
Financial bind? Nope. Enough to make me stop and take value of it's worth to me? Oh, absolutely. Already dropped our cable TV which was $85/month. Plan on using that $1,000 (per year) to almost cover a Caribbean vacation next winter (flying down on miles). Almost $200/year for Netflix? No thanks, we'll put that money to use somewhere else...
I'm with Dante on this. We canceled our satellite over 3 years ago because the cost/value ratio was WAY too low IMO. 70 bucks a month and there was never sh*t on that I wanted to see. Netflix was a recent addition for us, probably less than a year now, and while we've enjoyed it, I also kind of miss the quite and solitude of not having the squawk box in the house. I realize this touches on some other issues, but not having the TV was nice, we did stuff as a family and did lots of reading instead of sitting round the idiot box at night. Netflix at 10 bucks was a decent value and we did enjoy watching movies/tv shows (Battlestar Galactica FTMFW!! :nerd: ) While 16 bucks a month isn't going to break the bank it starts to encroach dangerously on the "its not worth it" territory in my mind.

Also this is a bad PR move. People just see 60% increase, and it sounds like a lot, cause it is.
 

dante

Unabomber
Feb 13, 2004
8,807
9
looking for classic NE singletrack
I'm with Dante on this. We canceled our satellite over 3 years ago because the cost/value ratio was WAY too low IMO. 70 bucks a month and there was never sh*t on that I wanted to see. Netflix was a recent addition for us, probably less than a year now, and while we've enjoyed it, I also kind of miss the quite and solitude of not having the squawk box in the house. I realize this touches on some other issues, but not having the TV was nice, we did stuff as a family and did lots of reading instead of sitting round the idiot box at night. Netflix at 10 bucks was a decent value and we did enjoy watching movies/tv shows (Battlestar Galactica FTMFW!! :nerd: ) While 16 bucks a month isn't going to break the bank it starts to encroach dangerously on the "its not worth it" territory in my mind.

Also this is a bad PR move. People just see 60% increase, and it sounds like a lot, cause it is.
Everything is based on percentage increases... Otherwise you'd eagerly lap up every $2 increase in the cost of a cup of coffee, but balk at a $1,000 increase in the cost of a car.

One of the people on the FB page also reminded me that less than a year ago, Netflix raised their prices as well. So really, in less than a year it's going to be 80% rate increase.

No thanks.
 

dante

Unabomber
Feb 13, 2004
8,807
9
looking for classic NE singletrack
Pretty spot-on... My biggest takeaway from that article was they should have "improved service first, THEN demanded an increase." Remember this deal that was supposedly the cause of the $1 price hike in the fall? How many James Bond films are available for streaming? (zero) How many Indiana Jones movies are available for streaming? (zero) How many Star Trek *movies*? (zero? 1? don't really care to sift through them)
 

eaterofdog

ass grabber
Sep 8, 2006
8,086
1,289
Central Florida
We've had NF for a while, but I'm thinking about dumping it now. I have been thinking about dumping it anyway. We get a disk or two a month and watch the occasional streaming show. It wasn't bad for 10 bucks. But we're not big fans of DVDs anymore and the selection for streaming still sucks pretty bad.

Netflix will be making more than enough off of the remaining customers to make up for those who leave. Good luck to them, but I think I'm done.
 

dante

Unabomber
Feb 13, 2004
8,807
9
looking for classic NE singletrack
We've had NF for a while, but I'm thinking about dumping it now. I have been thinking about dumping it anyway. We get a disk or two a month and watch the occasional streaming show. It wasn't bad for 10 bucks. But we're not big fans of DVDs anymore and the selection for streaming still sucks pretty bad.

Netflix will be making more than enough off of the remaining customers to make up for those who leave. Good luck to them, but I think I'm done.
Investors seem to think so....
 

jonKranked

Detective Dookie
Nov 10, 2005
85,178
23,829
media blackout
so it's just been a lot of huffing and puffing. will be interesting to see how subscription rates have changed next quarter

It has been two weeks since Netflix announced, much to the chagrin of its loyal user base, that it would be hiking its monthly subscription prices by 60 percent for users who want both streaming and discs. How have things been going for the company since then? If you were to ask some parts of the Internet, Netflix is about to crash and burn. But according to Netflix CEO Reed Hastings, there haven't been very many complaints.

Netflix announced earlier this month that it was splitting out its streaming and DVD plans and pricing them at $7.99 apiece per month—up from $9.99 per month for streaming and one DVD at a time. Assuming you want to keep both services (and not everyone does), that's $5.99 more per month for the same level of service, or $71.88 more per year. The company said it had decided to bump prices because there's still a large demand for DVDs, and splitting the services would make better financial sense for the company.

The immediate reaction was essentially split into two camps: those who shrugged and adjusted their account preferences as needed and those who raged out and swore they'd switch to something else. When I asked on Google+ about who was really switching, however, the large majority of the 70-plus respondents said that they weren't dropping Netflix.

"There isn't really any competition in this space. People talk up Redbox but it's not even in the same league," a user named Roy Watts commented.

The truth is that there aren't many services that offer the same combination of offerings as Netflix with as wide a selection and on as many devices, so Netflix still has room to play before really upsetting its users. While there may indeed be some shifting around of subscribers when Netflix's next fiscal quarter comes to an end, we wouldn't be surprised if things returned to business as usual soon thereafter.
http://arstechnica.com/web/news/2011/07/netflix-ceo-fewer-complaints-than-expected-over-price-hike.ars
 

stoney

Part of the unwashed, middle-American horde
Jul 26, 2006
21,446
6,908
Colorado
Higher Netflix prices equals fewer subscribers

http://www.sfgate.com/cgi-bin/article.cgi?file=/n/a/2011/09/15/financial/f140949D25.DTL

---------------------------------------------------------------------

Netflix's decision to raise prices by as much as 60 percent is turning
into a horror show.
The customer backlash against the higher rates, kicking in this month, has
been much harsher than Netflix Inc. anticipated. That prompted management
to predict Thursday that the company _the largest U.S. video subscription
service_ will end September with 600,000 fewer U.S. customers than it had
in June.

...
Since then, Netflix has turned into Wall Street's equivalent of a
box-office flop. Its shares plunged $39.46, or about 19 percent, to close
at $169.25 on Thursday, leaving Netflix's stock price more than 40 percent
below where it stood before the company unveiled the higher prices. The
cost to shareholders so far: more than $6 billion in paper losses.


It could get uglier if the worst-case scenarios play out. Netflix suffered
another setback earlier this month when Starz Entertainment ended talks to renew the licensing rights to a key part of Netflix's video library for
streaming over the Internet. The fallout from that decision will hit in
March when Netflix will no longer be able to stream the popular mix of
recently released movies and TV shows that it got from Starz, raising the
specter of another onslaught of customer defections
.
 

dante

Unabomber
Feb 13, 2004
8,807
9
looking for classic NE singletrack
:rofl:



That is all.

edit: More lulz - "Netflix revenue won't keep rising, though, if more subscribers flee. Pachter thinks that could still happen because some customers won't be billed at the higher rates until the end of the month."
 
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dante

Unabomber
Feb 13, 2004
8,807
9
looking for classic NE singletrack
edit: More lulz - "Netflix revenue won't keep rising, though, if more subscribers flee. Pachter thinks that could still happen because some customers won't be billed at the higher rates until the end of the month."
Even if Netflix's revenue rises some, it's P/E is still 43!! It's a "growth stock" which is (currently) dead in the water, and they might not have even seen the worst of the subscribers quitting since I'm guessing that there's going to be more subscribers who check their bills in the next couple months and realize how much more they're (automatically) paying.
 

bdamschen

Turbo Monkey
Nov 28, 2005
3,377
156
Spreckels, CA
Even if Netflix's revenue rises some, it's P/E is still 43!! It's a "growth stock" which is (currently) dead in the water, and they might not have even seen the worst of the subscribers quitting since I'm guessing that there's going to be more subscribers who check their bills in the next couple months and realize how much more they're (automatically) paying.
That was me. First one came through and I cut the extra DVD and blu ray option this week. Still keeping the streaming since it's still mildly better than comcast on demand. If comcast steps up their game though, I'm ditching netflix.
 

sanjuro

Tube Smuggler
Sep 13, 2004
17,373
0
SF
I just stopped watching movies. You should too.

Here is to reading books and Friends reruns.
 

jonKranked

Detective Dookie
Nov 10, 2005
85,178
23,829
media blackout

Jim Mac

MAKE ENDURO GREAT AGAIN
May 21, 2004
6,352
282
the middle east of NY
Dumped them before the price uppage/crash...recently discovered that my Amazon prime membership gives me free unlimited streaming - Hello Dr. Who seasons 1-5!! :weee:
 

Sandwich

Pig my fish!
Staff member
May 23, 2002
20,967
5,753
borcester rhymes
It completely fails to mention how large their user base actually is, which, even with the subscriber loss, is still north of 20 million.

Also, bear in mind netflix is currently only available in north america.
that's a pretty important figure that every news article seems to fail to mention. 20 million users? 600k is simply a dent, not the end of a company. If 20 million users are willing to pay double, that's still 1.9times the revenue, which is still more.
 

jonKranked

Detective Dookie
Nov 10, 2005
85,178
23,829
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that's a pretty important figure that every news article seems to fail to mention. 20 million users? 600k is simply a dent, not the end of a company. If 20 million users are willing to pay double, that's still 1.9times the revenue, which is still more.
bingo.

also, netflix is going to be launching in europe next year. which is going to be quite a substantial influx of users. and just wait till they launch in asia.

edit: Mr Math tells me its roughly a 2.5% loss (and their user base is actually 25 million, just looked it up to confirm)
 
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dante

Unabomber
Feb 13, 2004
8,807
9
looking for classic NE singletrack
It completely fails to mention how large their user base actually is, which, even with the subscriber loss, is still north of 20 million.

Also, bear in mind netflix is currently only available in north america.
Userbase is ~24m. Was 24.6m in June, they estimated that it was still going to rise to 25m, while it's actually fallen to 24m, or a difference of 1m users (4% of the subscribers).

That's a lot for a subscriber-based business model (ie, people have to physically cancel their membership as opposed to just shopping less at a certain store), and even more worrisome for something still trading at a 43 P/E. Too lazy to do the math, but it must have been almost 70 two months ago before this happened. For something that high the only thing that would justify it would be a *rapid* growth in earnings and customer base, and that looks doubtful at best.
 

clarkenstein

Monkey
Nov 28, 2008
244
0
or not. most of the bootlegs that move are first run movies, not back catalogs which comprises most of netflix.
makes sense, but the minute china gets their hands on a few copies of roadhouse, it may be all over for commercial spots on TBS during reruns.
 

jonKranked

Detective Dookie
Nov 10, 2005
85,178
23,829
media blackout
Userbase is ~24m. Was 24.6m in June, they estimated that it was still going to rise to 25m, while it's actually fallen to 24m, or a difference of 1m users (4% of the subscribers).

That's a lot for a subscriber-based business model (ie, people have to physically cancel their membership as opposed to just shopping less at a certain store), and even more worrisome for something still trading at a 43 P/E. Too lazy to do the math, but it must have been almost 70 two months ago before this happened. For something that high the only thing that would justify it would be a *rapid* growth in earnings and customer base, and that looks doubtful at best.
to sandwich's point, the increase in subscription cost will more than offset the loss of subscribers.