Verizon Considering Purchase of Netflix 139
schwit1 writes "Shares of Netflix soared more than 6% Monday on a report that Verizon Communications is considering buying the troubled movie renter. Verizon is reportedly evaluating whether a purchase of Netflix could provide an entry into the video delivery business, DealReporter said, citing a source close to the matter. The news comes as Netflix continues to struggle from a series of missteps earlier this year when it raised subscription prices and separated its DVD-by-mail service and streaming. Netflix's stock price plunged to a new 52-week low two weeks ago when the company warned it would fall to a loss in 2012 if it failed to boost its bruised customer base."
I will cancel if Verizon buys Netflix (Score:4, Interesting)
Missteps were mildly annoying, but I never considered cancelling. I _will_ cancel if Verizon acquires Netflix.
Re:Hastings Earns a generous severance package (Score:4, Interesting)
He's probably got a comfy warm seat on Verizon's board waiting for him. There has to be a reason he single-handedly destroyed Netflix from the inside. Nobody is stupid enough to do everything he did just out of the blue.
They did it to themselves. (Score:5, Interesting)
The fact of the matter is that the majority of people on the old Netflix plan only used the streaming service or the DVD plan because it came free with the one they wanted. They never had any interest in paying for the other service, so when Netflix decided to start charging for it, they naturally dropped the one they didn't use.
There was a smaller group that liked both, and decided that even with a 60% price increase, that it was worth it.
There was an even smaller group that liked both, but were frustrated with the streaming selection, annoyed at the screwed up website. They were already looking at other options, but nothing came close to the combined value of DVDs and streaming. When the price increase came, this changed and other options started looking more competitive so they left. But again this was a very small group.
I wouldn't call people who don't want to pay for a service they hardly use spoiled. I wouldn't call people who can find a better deal spoiled. I call it obvious, and if Netflix had done any customer research they would have as well.