Netflix Loses 800k Subscribers, Game Rentals Still Up in the Air

October 25, 2011 -

Netflix has had a rough couple of months.  Investors and customers alike have reacted negatively to the company’s recent price hikes and it’s Qwikster announcement was so unpopular that it canned the whole thing mere weeks later.

"The last few months...have been difficult for shareholders, employees, and most unfortunately, many members of Netflix," wrote Netflix CEO Reed Hastings in a letter to shareholders. "We've hurt our hard-earned reputation, and stalled our domestic growth."

Indeed, Netflix lost 800,000 subscribers in the U.S. last quarter and expects to lose more by the end of December.  The company had a total of 23.8 million subscribers as of Sept. 30th with around 21.5 million customers having streaming subscriptions and just under 14 million having DVD subscriptions (most customers have both).  Netflix expects those numbers to drop to around 20 – 21.5 million streaming customers and 11.3 million DVD subscribers.

Hastings also warned shareholders that it will be unprofitable in upcoming quarters due partially to the costs involved with its service expansion into the UK and Ireland.

But what about game rentals?  It’s still unclear whether Netflix’s plans to offer console games in addition to movies died with Qwikster.

"We have yet to decide whether or not to offer video game discs," CEO Reed Hastings told Gamasutra. "The decision will have little financial impact either way."

Sources: CNN and Gamasutra

-Reporting from San Diego, GamePolitics Contributing Editor Andrew Eisen
 


Comments

Re: Netflix Loses 800k Subscribers, Game Rentals Still Up in ...

Netflix has a choice do a rollback or stagnant and die its funny because this all goes back to Netflix trying to buy the rights to one of Kevin Spacey's new shows yet they didn't want to share with anyone else but yet they wanted to stream other studios content...

So movie studios wanted a raise and now Netflix wants to do more Kevin Spacey shoes and so they have the nerve to raise the price again and look what happened.

 
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Andrew EisenPM - Yep, that's the one.03/06/2015 - 12:53am
TechnogeekBest case, it was some marketing douchebag who thought they could pander to both sides at once.03/06/2015 - 12:49am
TechnogeekAlso, this was the mistake tweet: http://i.imgur.com/4eLWNHx.jpg03/06/2015 - 12:48am
TechnogeekBecause nothing says "open, diverse gaming community" like buddying up with Breitbart.03/06/2015 - 12:47am
Papa MidnightAndrew Eisen, I believe this is the picture that you seek: http://i.imgur.com/Gdk60pa.jpg03/06/2015 - 12:30am
Papa MidnightSurely, Goth_Skunk, you say that in jest?03/06/2015 - 12:28am
prh99Craig R. Cause quite a few of them are not, they're bullies with different politics.03/06/2015 - 12:23am
MechaTama31What was the "mistake" tweet?03/06/2015 - 12:18am
MechaCrashWhatever you say, Goth.03/06/2015 - 12:02am
E. Zachary KnightGoth, they could have fooled me.03/05/2015 - 11:16pm
Goth_SkunkI don't understand. GamerGate supports an open, diverse gaming community for all as well. Google's statement is contradictory.03/05/2015 - 10:59pm
TechnogeekAnd as far as the Card thing went, I basically balanced it out personal guilt-wise by donating an amount equal to the Shadow Complex purchase price to the ACLU.03/05/2015 - 9:44pm
TechnogeekWelp, look like the Gerberghazi crowd is going to have to use Bing now. https://twitter.com/googlecloud/status/57365320825126093003/05/2015 - 9:42pm
Goth_SkunkAhh! I misinterpreted your statement about being left with almost every game in existence. I interpreted it as 'If you boycott games he's been involved with, you're boycotting almost all of them.'03/05/2015 - 9:31pm
Andrew EisenGoth - Card has been involved with only a small handful of games so if one were to boycott games for his involvement, they wouldn't be missing out on many games.03/05/2015 - 9:29pm
Goth_Skunk@Craig: Only if you're not interested in seeing it end.03/05/2015 - 9:27pm
Craig R.Instead of calling people the "anti gamergate faction", you could just call them "sane"03/05/2015 - 9:23pm
Goth_SkunkWhat do you mean 'almost every game in existence'? Card is a writer, not a game developer.03/05/2015 - 9:18pm
Andrew EisenBut I too wonder how many people who cry boycott actually follow through. I vaguely remember a few years ago a bunch of people boycotting one of the CoD games and were all found playing it on Steam.03/05/2015 - 7:53pm
Andrew EisenAn interesting quandary but not equivalent as boycotting games that Card was involved with leaves you with... well, almost every game in existence.03/05/2015 - 7:51pm
 

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