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Netflix troubles pile on, Web site crashed

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one...two...tree Grand Master

one...two...tree   2,762

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Michael Liedtke

Associated Press

SAN FRANCISCO - Netflix Inc.'s stock price plunged to its lowest point in more than two years Tuesday after the online DVD rental leader reported the first quarterly customer losses in its history and dimmed its earnings outlook for the rest of the year.

To make matters worse, Netflix's Web site - the hub of its rental system - went down Monday evening and remained inaccessible as of Tuesday afternoon (EDT). Spokesman Steve Swasey attributed the outage to an unanticipated problem that he declined to describe. Engineers hoped to fix the trouble by 2 p.m. EDT.

Netflix had been in the process of updating its computers to reflect price reductions that took effect Tuesday.

The timing of the breakdown was especially awkward because it occurred shortly after Netflix management had briefed industry analysts on plans to improve its customer service in an increasingly bitter battle with rival Blockbuster Inc.

Lowering prices will erode Netflix's profit - a sacrifice that the Los Gatos-based company is making in an attempt to regain market share from Blockbuster. The decision led to a further drubbing of Netflix's already battered stock, which has plunged by nearly 40 percent so far this year.

The shares dropped as low as $15.62 early Tuesday, its lowest point since June 2005. The stock later rebounded to $16.39, down 88 cents, or 5.1 percent.

Hoping to retain more of its current customers while enticing new subscribers, Netflix is decreasing monthly fees by $1 on its two most popular plans to match Blockbuster's prices for comparable Internet-only services.

Netflix has been having trouble signing up subscribers since late last year, when Blockbuster began giving its online customers the option of swapping DVDs at one of its stores instead of relying on the mail and waiting at least two days for another movie.

"We are in a very competitive, large battle," Reed Hastings, Netflix's chief executive officer, said in an interview Monday after the company released its second-quarter earnings. "But we feel like we are still in a great position."

Wedbush Morgan Securities analyst Michael Pachter believes Blockbuster may have exposed Netflix's Achilles' heel by aggressively promoting the convenience of Blockbuster stores to build its online service.

"Netflix has a broken model," Pachter said. "They aren't used to competition and now someone is competing against them very effectively."

http://www.azcentral.com/business/articles...tflix24-ON.html

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SteveLaura Experienced

SteveLaura   0

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To make matters worse, Netflix's Web site - the hub of its rental system - went down Monday evening and remained inaccessible as of Tuesday afternoon (EDT). Spokesman Steve Swasey attributed the outage to an unanticipated problem that he declined to describe.

Blockbuster sent the boys round. 'Nuff said.

"It's not the years; it's the mileage." Indiana Jones

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one...two...tree Grand Master

one...two...tree   2,762

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To make matters worse, Netflix's Web site - the hub of its rental system - went down Monday evening and remained inaccessible as of Tuesday afternoon (EDT). Spokesman Steve Swasey attributed the outage to an unanticipated problem that he declined to describe.

Blockbuster sent the boys round. 'Nuff said.

It would be sad if Netlix were to fold, their service has been stellar and they've offered movies that previously, Blackbuster would NEVER carry. They were the only ones who were able to tap into the Blockbuster empire, but I guess payback's a b!tch.

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Marilyn. Grand Master

Marilyn.   340

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I still prefer Netflix... :thumbs:

i never understood the Blockbuster thing about exchanging at the store... I guess it is good for people who live close to a Blockbuster... but then you have the added hassle of returning those exchanged movies back to the store...

Also Netflix has a cool Watch Now feature.. where you can watch movies online :thumbs:

mvSuprise-hug.gif
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Nessa Grand Master

Nessa   23

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speaking of Netflix their site is unavailable the entire day :protest:



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one...two...tree Grand Master

one...two...tree   2,762

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I still prefer Netflix... :thumbs:

i never understood the Blockbuster thing about exchanging at the store... I guess it is good for people who live close to a Blockbuster... but then you have the added hassle of returning those exchanged movies back to the store...

Also Netflix has a cool Watch Now feature.. where you can watch movies online :thumbs:

Me too. Hopefully, they'll find some clever ways to keep competing with Blockbuster. :)

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Nessa Grand Master

Nessa   23

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speaking of Netflix their site is unavailable the entire day :protest:

yeah, that was mentioned in the article... I guess their site crashed yesterday sometime....

OH :blush: I guess next time I will read more than only the first and last line of the article :P



* K1 Timeline *
* 04/07/06: I-129F Sent to NSC
* 10/02/06: Interview date - APPROVED!
* 10/10/06: POE Houston
* 11/25/06: Wedding day!!!

* AOS/EAD/AP Timeline *
*01/05/07: AOS/EAD/AP sent
*02/19/08: AOS approved
*02/27/08: Permanent Resident Card received

* LOC Timeline *
*12/31/09: Applied Lifting of Condition
*01/04/10: NOA
*02/12/10: Biometrics
*03/03/10: LOC approved
*03/11/10: 10 years green card received

* Naturalization Timeline *
*12/17/10: package sent
*12/29/10: NOA date
*01/19/11: biometrics
*04/12/11: interview
*04/15/11: approval letter
*05/13/11: Oath Ceremony - Officially done with Immigration.

Complete Timeline

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Marilyn. Grand Master

Marilyn.   340

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speaking of Netflix their site is unavailable the entire day :protest:

yeah, that was mentioned in the article... I guess their site crashed yesterday sometime....

OH :blush: I guess next time I will read more than only the first and last line of the article :P

yup, that is a good idea ... :P:lol: just teasing ya :devil:

I still prefer Netflix... :thumbs:

i never understood the Blockbuster thing about exchanging at the store... I guess it is good for people who live close to a Blockbuster... but then you have the added hassle of returning those exchanged movies back to the store...

Also Netflix has a cool Watch Now feature.. where you can watch movies online :thumbs:

Me too. Hopefully, they'll find some clever ways to keep competing with Blockbuster. :)

i hope so too...

mvSuprise-hug.gif
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isleta521 Proficient

isleta521   5

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Hated blockbuster and Hollywood. Their selection sucks along w/ their prices. :angry:

Hope Netflix gets it together.

10Yr GC arrived 07/02/09 - Naturalization is next

The drama begins - again!

And now the drama ends - they took the Green card . . .

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Trumplestiltskin Grand Master

Trumplestiltskin   5,791

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I agree that Blockbuster's movie selection pretty much sucks - unless you like mainstream Hollywood action flicks.

Netflix carries a lot of obscure movies in addition to those - Criterion edition DVDs of otherwise rare movies, and a lot of independent stuff. I hope it doesn't fold - that might mean we would have to purchase cable and I really don't want to pay to watch advertising. Considering you can't pick what channels you want either (I'd just like HBO and perhaps a half dozen other channels) - that's not exactly the definition of consumer choice.

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TracyLuis Proficient

TracyLuis   0

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I LOVE Netflix and recommend it to everyone I know. Maybe there's a petition we can sign to help keep them in business...

ONE DAY AT A TIME....

REMOVAL OF CONDITIONS

12/30/2008: Overnighted I-751 package to VSC

01/06/2009: Check cashed

01/06/2009: NOA (arrived 01/09/09)

01/23/2009: Biometrics appt letter received

01/31/2009: Biometrics scheduled

05/20/2009: APPROVED

06/23/2009: 10 Year Green Card arrived

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almaty Grand Master

almaty   19

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To make matters worse, Netflix's Web site - the hub of its rental system - went down Monday evening and remained inaccessible as of Tuesday afternoon (EDT). Spokesman Steve Swasey attributed the outage to an unanticipated problem that he declined to describe.

Blockbuster sent the boys round. 'Nuff said.

yeap..they are f##ked

Peace to All creatures great and small............................................

But when we turn to the Hebrew literature, we do not find such jokes about the donkey. Rather the animal is known for its strength and its loyalty to its master (Genesis 49:14; Numbers 22:30).

Peppi_drinking_beer.jpg

my burro, bosco ..enjoying a beer in almaty

http://www.visajourney.com/forums/index.ph...st&id=10835

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Trumplestiltskin Grand Master

Trumplestiltskin   5,791

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To make matters worse, Netflix's Web site - the hub of its rental system - went down Monday evening and remained inaccessible as of Tuesday afternoon (EDT). Spokesman Steve Swasey attributed the outage to an unanticipated problem that he declined to describe.

Blockbuster sent the boys round. 'Nuff said.

yeap..they are f##ked

Nah - they just need to fix their IT, as that's what their service relies upon.

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