Nf Lost Year Essay

6580 WordsApr 22, 201327 Pages
2/24/13 Netflix's lost year: The inside story of the price-hike train wreck | Internet & Media - CNET News CNET News Netflix's lost year: The inside story of the price-hike train wreck One year ago tomorrow, CEO Reed Hastings took the first of a series of missteps that angered customers and nearly derailed his company. Current and former employees disclose what went wrong. by Greg Sandoval | July 11, 2012 12:01 AM PDT news.cnet.com/8301-1023_3-57468798-93/netflixs-lost-year-the-inside-story-of-the-price-hike-train-wreck/ 1/24 2/24/13 Netflix's lost year: The inside story of the price-hike train wreck | Internet & Media - CNET News Before he angered customers by raising prices, before he became the butt of Saturday Night Liv e satire for his Qwikster schemes, Netflix CEO Reed Hastings alienated some of his key ex ecutiv es. Influential v oices at the company departed just before Netflix embarked on a doomed attempt to spinoff DV D operations. (Credit: Montage by James Martin/CNET) Reed Hastings stopped listening, and that's when the trouble started. In the spring of 2011, Hastings, Netflix's widely admired chief executive, held a meeting with his management team and outlined his blueprint to jettison Netflix's DVD operations. Netflix managers would tell subscribers on July 12 that they planned to do away with a popular subscription that offered access to DVD rentals as well as unlimited on-demand streaming video for $10 per month. DVDs and streaming would be news.cnet.com/8301-1023_3-57468798-93/netflixs-lost-year-the-inside-story-of-the-price-hike-train-wreck/ 2/24 2/24/13 Netflix's lost year: The inside story of the price-hike train wreck | Internet & Media - CNET News separated and each would cost subscribers $7.99 a month, or $15.98 for both, about a 60 percent hike. The changes would take place in September. Jonathan

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