Netflix

[BunsenBurner]

<p>Greed kills… Subscribers flee Netflix, and Netflix shares tank :</p>

<p>[NFLX:</a> Summary for Netflix, Inc.- Yahoo! Finance](<a href=“http://finance.yahoo.com/q?s=NFLX]NFLX:”>Netflix, Inc. (NFLX) Stock Price, News, Quote & History - Yahoo Finance)</p>

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Netflix revealed late Monday that it ended September with 23.8 million U.S. subscribers. That’s down about 800,000 from June and far worse than anything that the company had hinted at before.</p>

<p>And it may get worse. Of its customer defections, Netflix said it expects more in coming months.</p>

<p>The exodus began after the company raised its prices by as much as 60 percent in July. Its website was flooded by letters from livid customers. Many people also canceled service, especially on the DVD-by-mail side. The company is betting that its future is in streaming video, and CEO Reed Hastings has said he expects Netflix’s DVD subscriptions to steadily decline, much like what has happened to AOL Inc.'s dial-up Internet service.</p>

<p>But Netflix bungled a spin off its DVD-by-mail service, giving it the name Qwikster and creating separate accounts for people who wanted both DVDs and movie streaming. By doing so, the company created what many perceived as a more complicated rental process at a company that began its meteoric rise with a new, easier way of searching for and finding entertainment effortlessly.</p>

<p>Netflix shares fell $42.65, or 35.9 percent, to $76.19 in morning trading Tuesday. The stock is down from more than $300 just 3 1/2 months

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