Misstep by Netflix Benefits Competitors


Shares of Netflix, the company that changed the way millions of people watch films and TV shows, have plummeted 50 percent in the past two months. The company sparked consumer wrath with a price increase as high as 60 percent for some DVD subscribers and the decision to separate its DVD and streaming businesses. Last week, Netflix cuts its subscriber forecast by 1 million. The management has received much criticism for the failure to understand the market and explain decisions to investors and consumers adequately. Competitors are seeking to take advantage of the opportunity and win over disgruntled consumers. Blockbuster is expected to announce its jump into the streaming market this week. Amazon has also been beefing up its streaming offering and seeks to acquire Hulu. Read more here: http://www.reuters.com/article/2011/09/23/us-netflix-blockbuster-idUSTRE78L5VT20110923

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