Netflix CEO Reed Hastings has sent out a letter to investors detailing the company's new strategy, which sounds very similar to one of its rivals: HBO.
When you’ve just become the top movie subscription service in the world, you don’t raise rates without explanation. That comes off as greedy. And if you’re going to apologize for that mistake, try not to announce that you’re splitting your company in half and renaming half of it Qwikster. These actions will lead to 800,000 subscribers jumping ship and send your stock price tumbling from more than $300 a share to about $87 bucks in a couple months.
No comments:
Post a Comment