Netflix shares are down about 35 percent today after the online movie company warned of subscriber defections and mounting costs. This is getting sad.
Everyone's been downgrading the stock after Netflix said DVD subscriptions would decline sharply this quarter even as total subscriptions, including streaming, would post a slight gain. The company's spending to acquire content apparently grew faster than its revenue last quarter, as well.
Why is Netflix such a huge drama queen of a company? We customers should be allowed to just manage our queues and debit our monthly fees and not worry about whether the company is going to be around next month or what it's going to be called or whether our rates will triple. God knows what wild and zany scheme CEO Reed Hastings will cook up in reaction to this latest development. Something that makes this email parody thread come true, probably.
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