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Co-founder of Netflix's so-called apology

Netflix's apology for their 2011 price increase.

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A Quick Tip by woopak_the_thrill

  • Oct 4, 2011
Heh. I saw several commercials by Blockbuster and one by REDBOX. They both use the stupidity Netflix had done as their platform for their ads. They establish why people should use them more now, and one common thing they say: "we do it for a lesser price, while netflix had raised their fees by 60%".  Blockbuster had also promised an improved turn-around and better selections. RedBox is a different animal and yet they've extended the period. You can also return the movie at any REDBOX location. (example you rent in Nevada and return it in California)

Nice going, netflix, you have aided your competition in competing against you. This has resulted with you losing a lot of customers and your shares have plummetted. See what happens you believe your own hype?

See full write up here.
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October 15, 2011
This backfired so quick
October 15, 2011
the company flip-flopped so bad that you'd think they were politicians LOL
October 15, 2011
Indeed
 
October 04, 2011
I use Redbox to satiate me in between Netflix shipments. I actually just chose to go down to the one DVD at a time for $8/month. I used to do the 2 at a time and unlimited streaming for $15/month, so yeah, that was a moronic move on their part. I have to say that Blockbuster has piqued my interest but, I'll have to look into it much more before I turn my back fully on Netflix.
October 05, 2011
It's odd that it seems like they sabotaged themselves. Yeah it may be a good business decision in a Wallstreet standpoint, but it backfired. They have revived Blockbuster by this move.
October 10, 2011
So I'm guessing you got the latest email? No Qwikster. I guess we the customers got at least half of our point across huh?
October 10, 2011
Yay!! I actually got an email too....I put my account on hold.
October 10, 2011
Yeah, me too! I was a little shocked- didn't they spend endless amounts of money on PR and Marketing for the new name? Not to mention labor costs, etc? Wow, ridiculous corporate spending and waste....when will they ever learn lol? What was the use of doing all that just to keep it named Netflix? Sorry for the 20 questions but, it's just silly to me!
 
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More Netflix's Apology For Price In... reviews
review by . September 21, 2011
posted in WHAT CAN I SAY?
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Please bear with me, this is not a review on Netflix or the service they provide. This is just a simple opinion on the so-called 'apology' by the Netflix CEO.       When Netflix showed up, it revolutionized the way we rented movies. I mean, it made me want to see more movies, and my rental activities went through the roof. It was such a relief and so convenient to get movies via U.S. mail with a fixed price. The heck with Blockbuster rewards that make me pay $ 0.99-3.99 …
Quick Tip by . September 20, 2011
posted in WHAT CAN I SAY?
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Recently Reed Hastings, co-founder and CEO of Netflix sent out an "apology" to his customers following a 60% price hike and subscription revamp. Since this new price increase I have heard that Netflix lost somewhere around 2 million subscribers, many of them long term patrons. Now it seems the explanation has to do with Netflix turning over their streaming option to some company called Qwikster, thus forcing customers to have separate entries on their billing statements, AND making them …
Quick Tip by . September 27, 2011
This is a lame attempt to try to "correct" a lame decision. Where is New Coke when you need it? It is great when people follow Peter Finch's (Network) advice and tell businesses "we're not going to take it anymore."
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Wiki

[below is a copy of the Netflix co-founder's article]

Sunday, September 18, 2011

An Explanation and Some Reflections

 
I messed up.I owe everyone an explanation.

It is clear from the feedback over the past two months that many members felt we lacked respect and humility in the way we announced the separation of DVD and streaming, and the price changes.That was certainly not our intent, and I offer my sincere apology.I’ll try to explain how this happened.

For the past five years, my greatest fear at Netflix has been that we wouldn't make the leap from success in DVDs to success in streaming.Most companies that are great at something – like AOL dialup or Borders bookstores – do not become great at new things people want (streaming for us) because they are afraid to hurt their initial business. Eventually these companies realize their error of not focusing enough on the new thing, and then the company fights desperately and hopelessly to recover. Companies rarely die from moving too fast, and they frequently die from moving too slowly.

When Netflix is evolving rapidly, however, I need to be extra-communicative.This is the key thing I got wrong.

In hindsight, I slid into arrogance based upon past success.We have done very well for a long time by steadily improving our service, without doing much CEO communication.Inside Netflix I say, “Actions speak louder than words,” and we should just keep improving our service.

But now I...
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