MINNEAPOLIS -- Netflix, over the last decade, has become somewhat of an empire but right now that empire is in trouble as its stock plummeted 48 percent and its subscribers have been leaving en masse after the Netflix bosses announced they were changing the way it would provide its users their entertainment.
"As a consumer I am just sort of voicing my opinion with my subscription and cancelling it," longtime Netflix user Micah Spieler said Monday.
Netflix announced dramatic changes weeks ago. It's DVD by mail is now one service, called Quickster and its online streaming is another. They are priced individually so the product you're getting at home remains the same, but the cost went up 60 percent in some cases.
That cost spike, coupled with the changes, sent subscribers packing by the hundreds of thousands but is it fair? Some say, no.
"We have these unfair expectations probably about the price of our entertainment and also some interesting expectations about how we should be able to influence the decisions companies make," social media expert at Clockwork Media Systems Meghan Wilker said.
The exodus from Netflix didn't go unnoticed by its CEO who Sunday night posted a blog apologizing to subscribers for "messing up" and being "arrogant" in making these changes without taking the pulse of customers.
Is that the way businesses now have to conduct business? "I think it is yet another example of a company not understanding this new world we are in with regard to social media and the voice that consumers expect to have," Wilker said.
Netflix's new fees are already in place, but its new system is set to begin in a couple of weeks.
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