Netflix Announce Price Increase; Riots Break Out

Okay, maybe but riots, but I haven’t seen this much negative internet chatter about a decision since the recent Casey Anthony / Caylee Anthony Murder trial. Granted that was a week ago but in internet years, that’s a long time.

To summarize:

Netflix said yesterday it will be raising its monthly price of a plan that lets subscribers watch unlimited movies and video online and get DVDs by mail by 60 percent.

The price for unlimited streaming plus rental of one DVD at a time will run about $16, up from about $10. Subscribing to just streaming, or just one DVD at a time, costs about $8.

I understand with the “New Normal” everything is costing more. These days if a company experiences a 2% annual increase in revenue, it’s considered a banner year. I also realize that bandwidth traffic is costing more (that’s a whole other topic for another posting) so I’m not saying Netflix shouldn’t raise these prices (as much as my wallet hates it). But most customers don’t see any value in being forced to follow Netflix’s new “Streaming Model”.  Netflix’s streaming offering are pitiful at best.

Note to Neflix: next time you decide to increase your rates, provide some sort of increase to your catalog of online movies or some other type of  noteworthy feature so your loyal customers feel as though they are getting something for their money.

In case you were curious, I cancelled my Netflix subscription this morning.

More information at:

http://www.reuters.com/article/2011/07/13/us-netflix-prices-idUSTRE76C6CW20110713

http://blog.netflix.com/2011/07/netflix-introduces-new-plans-and.html?fb_comment_id=fbc_10150253087824539_17524826_10150254200744539