Netflix Stock Prices Dive Almost 19 Percent After Announcing Loss of 1M Subscribers
All looked bright for the company, but in July, Netflix announced they would be changing their subscriber price structure on September 1, 2011, increasing the monthly fees by $6 without any improvement in service. Speculations were positive and even Wall Street thought the change would do the company good. But that didn’t happen. Last week, their stock prices took a dive of almost 19 percent.
At the beginning of this year, Netflix’s stock prices tripled. The web-based movie rental company had released top devices and partnered with manufactures of consoles involving PS3, Xbox and Wii. The idea was to make it easier for customers to stream movies and TV shows right into their living rooms. In March, Netflix announced its first drama series, “House of Cards,” starring Kevin Spacey.
All looked bright for the company, but in July, Netflix announced they would be changing their subscriber price structure on September 1, 2011, increasing the monthly fees by $6 without any improvement in service.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in