Netflix News of the Day: In its quarterly earnings report, Netflix said it has lost more than 800,000 subscribers due to price increases and the short-lived Qwikster spinoff.
Despite the sharp decline in paying customers, Netflix reported $822 million in revenue, beating a projection of $811.79 million.
Surprisingly, the company claims Qwikster had a small effect on subscriber numbers, at least compared to the September price increase.
In a letter to shareholders, Netflix said, “While this branding incident further dented our reputation, and caused a temporary cancellation surge, compared to our price change, its impact was relatively minor.”
Netflix did have some positive news to announce today: the company plans to expand its streaming service to the UK and Ireland in early 2012.
Submitted by: Unknown
-
-
Copy & paste this:
