I don't what Netflix is smoking but I guess its investors are not smoking it. Neither am I. In the short-term, Netflix is going to hurt big time. Stock is down 15% or so as it lowered the estimate of users it'll have. I think in this economy, raising the price the way they did was just stupid.
And others sense blood. Hulu, Redbox, Google, etc. And more importantly, the content providers do as well. Starz recently walked away from a deal with Netflix.
I've downgraded my plan to streaming only and dropped my DVD rental portion, and picked up a Hulu sub just in time for the fall. That's money Netflix could have used.
I encourage other Netflix users to do the same. Downgrade or take a look at another service like Hulu. If and when Netflix comes to its senses, we're more than happy to support them again.
Source: Huffington Post.