Saturday, 17th November 2018
Logo Islandinfo
Mauritius in your hands            
Home

Find in Mauritius

         
Sight Seeing
Activities
Shopping
Eating Out
Nightlife
Hotels
Body & Soul
Business
Services
Real Estate
Mauritius Map
Mauritius Online Magazine May 2017 Issue
Testimonials
Expatriates in Mauritius
Mauritius Discovery
Mauritius Explore
Mauritius Escape
Voucher

Forthcoming Events
in Mauritius


Events & Galleries
in Mauritius
Min: 19 Max: 27
Partly Cloudy
Other regions of Mauritius
 
Email:
           
TOMORROW'S WORLD
25 Oct 2011
VIDEO RENTAL FIRM NETFLIX LOSES CUSTOMERS OVER PRICES

The US video rental firm Netflix has lost subscribers in the third quarter of 2011, as it reels from a customer backlash over price increases.

It had 23.8 million customers at the end of September, a fall of more than 800,000 from June.

Earlier this year it raised prices for its DVD rental and online streaming services, upsetting many customers.

Despite a rise in profits, its shares fell in after-hours trading by more than a quarter.

Profits rose by 65% for the quarter to $62.5m (£39.1m), compared to the same period last year. Revenues rose by 49% to $822m (£514m), well above analysts' expectations.

But the number of subscribers fell by more than the firm predicted, causing the shares to fall sharply in New York after the closing bell.

Netflix has already lost 60% of its value since July after it raised prices for its joint DVD rental and online film and video streaming service and announced plans to sell of the DVD arm of the business.

The firm operates the largest video streaming service in the US. Earlier on Monday it announced plans for a new subscriptions service for the UK and Ireland, to launch next year.
source: bbc.co.uk

« Back
 
Publish your article with us for free
Home | About us | Contact Us | Advertising | Link to Us | Airport   Bookmark and Share Site by: Islandinfo & Maxuz Web Agency