Netflix stock took a beating in the aftermarket activities as Starz walked away from Netlfix and will no longer be offering its contents come Feb 28, 2012. Despite losing content, Netflix will hold onto to the rate hike it imposed on me.
I can't say that I have a whole lot to complain about. There are plenty of stuff that I can watch still through Netflix. It'll give me to go through them. Still, like anyone else, you hate having something taken away from you.
Netflix CEO, Reed Hastings, promised more content agreements are on the way. Right now, Starz content account for 8% of streaming offerings. By the time Starz is no longer available, it would have accounted for 6% of viewing contents.
So, bottom line: big hike and we lose 6% of our streaming catalog all so we can fund Netflix's overseas market.
Source: Business Insider.