Netflix subscribers leaving after price rise

Netflix DVDs waiting to be posted out to customers Users who want to rent DVDs by post are now having to pay more

Related Stories

Shares in US internet film streaming and DVD mail rental company Netflix have slumped by 19% after it confirmed that it was losing customers following a recent price rise.

Netflix said it would have 24 million US subscribers by the end of September, down from 25 million in July.

It follows after Netflix announced in July that it would be increasing the cost of its DVD service.

The move has raised the monthly bill of some of its users by 60% or $6 (£3.90).

Netflix chose to increase prices on the DVD side of its business as more and more of its customers had instead switched to streaming its available movies via the internet instead.

However, the rise has had an angry response.

Analyst Barton Crockett of Lazard Capital said the decision was a "rare, large and surprising misstep" by the company and its chief executive Reed Hastings.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features

  • Atletico's Diego Godin celebrates his goal with teammate David VillaWeek in pictures

    Selection of the best news photographs from around the world


  • Susanne du ToitTop 10 Tips

    Portrait painter Susanne du Toit on being an artist


  • StampsPost Independence

    Will stamps get cheaper if Scots go it alone?


  • Rhea10 things

    Rhea birds can be extremely dangerous, plus other factlets


  • Plane at Shannon airportShannon's call

    The airport that hosted a roll-call of presidents


BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.