Netflix quarter results show that the price hike wasn’t a good idea
Even though Netflix continues to be one of the preferred go-to services for media consumption on the web, the company has made a few controversial changes over the last few years that haven’t proven to be popular. These changes have mostly been price hikes, which even though not significant, have definitely not garnered the company good publicity. Today Netflix has announced its Q2/2016 results, and customers seem to be voicing concerns loud and clear.
Netflix has just revealed that it wasn’t able to reach its planned growth of two million subscribers internationally and 500K in the US for Q2. The results were actually quite low, with only a 1.5 M subscriber growth in the international market, and 160K subscribers in the US. Not even reaching half the goal in the US is a clear indication that the company needs to re-consider its strategy, and mainly at a time when competing services like Amazon Prime will provide most of these services as part of the add-ons tot he prime package.
Q3 plans are said to be of 300K subscribers in the US and the same two million abroad. Let’s see if the same $9.99 price tag garners better results this time.