Netflix Is Tanking & It's All Their Fault

Netflix
A former Netflix subscriber
Dear Netflix,

I'm sorry about your loss. Of customers. Of investors. And of NFLX stock. I know we haven't exactly been on the best of terms since I ditched you for On Demand a year ago, but a friend's a friend. And I'm here for you, broseph. Also, keep an eye out for a 1-800-Flowers delivery later on today. I think the guy said he'll just leave it on the porch if you don't answer the door.

So, not to get all ... whatever during your time of need, but, out of curiosity, what were you expecting to come of this? Did you think your new business model was a good one? One that would entice new subscribers -- a practice you'd been so good at in the past?

I mean, you hiked your prices up 60 percent. And you tried to present this info under the auspice that customers were getting a deal. Like I said, I'm your friend, but between you and me, the whole thing seemed a little shady.

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I heard that you're sticking to your financial projections for the current quarter (for now) -- that's good! But I also heard that you had to cut your subscriber projections -- instead of growing to 25 million total U.S. subscribers, you're only going to hit 24 million, which is slightly less than the 24.59 million you ended the last quarter with. That must be so tough. I'm totally not keeping track or anything, I just feel like this is pertinent to the conversation, you know? You need to hear this stuff to, well, flourish again. You're not flourishing right now.

I'm guessing the decline is due to people cutting their DVD subscriptions, but your projections for online streaming subscriptions fell a bit, too, no? That's what a friend told me, at least. Again, not up on everything going on in your world. I have my own life.

But I will say that I see what you're trying to do. You're trying to fully embrace 2011 -- you want to hit the market of consumers who stream videos rather than rent DVDs, 2008-style. I gotta tell you, though, not only have you gone about this in the wrong way, there's, like, fierce competition out there. Maybe you bailed on the DVD thing too soon? I don't know, this isn't my field of expertise.

Anyway, like I said, I'm here for you. No, I'm not going to become a subscriber again -- come on, man, I thought we went through this already; let's not relive the past. But if you need anything at all, give me a call. Or email me. I think I changed my number since we last spoke.

Are you surprised that everything is going to crap for Netflix?

 

Image via _tar0_/Flickr

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