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Subject: Netflix CEO: "I messed up", hello Qwikster rss

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http://blog.netflix.com/2011/09/explanation-and-some-reflect...
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Peter Ferguson
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Re: Netflix CEO: "I messed up", hello Quickster
tesuji wrote:


Meh, no big deal, in Canada, we can only get the netflix screening, they never offered the DVD rental portion.. plus we're still at $8/mth..

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Re: Netflix CEO: "I messed up", hello Quickster
I like the idea of being able to only subscribe to DVDs. Streaming isn't something I'll be interested in until some major improvements are made.
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Re: Netflix CEO: "I messed up", hello Quickster
Please get the name right: Qwikster.
We can't make fun of this business decision without correctly identifying the name. Qwikster. I thought the "-ster" stuff died with Napster & Friendster.

I also love the foreshadowing in his email:
Reed Hastings wrote:
For the past five years, my greatest fear at Netflix has been that we wouldn't make the leap from success in DVDs to success in streaming. Most companies that are great at something – like AOL dialup or Borders bookstores – do not become great at new things people want (streaming for us).

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Re: Netflix CEO: "I messed up", hello Qwickster
fightcitymayor wrote:
Please get the name right: Qwikster.

Done
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Chris Binkowski
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Re: Netflix CEO: "I messed up", hello Qwickster
The problem I have is they haven't said how much more content is supposed to be added to the streaming service. I would do the streaming only if it included new releases and more of the older content that is only available through DVD. So I am probably cancelling for a while.

After I catch up on everything in my queue :D
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Re: Netflix CEO: "I messed up", hello Qwickster
This Qwikster fellow lost me when he removed my friends feature.
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Leezer wrote:
I like the idea of being able to only subscribe to DVDs. Streaming isn't something I'll be interested in until some major improvements are made.


I'm just the opposite. The convenience of streaming far, far outweighs waiting for a non-specific DVD for me. I figured that out when the last DVD I got from Netflix has sat, unwatched, somewhere in my living room for a month or two. I have to find it to send it back, as I cancelled the DVD portion of my subscription.

I do wish/hope they improve the selection, but on-demand + Netflix has pretty much killed renting DVDs for me.
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Chanfan wrote:
Leezer wrote:
I like the idea of being able to only subscribe to DVDs. Streaming isn't something I'll be interested in until some major improvements are made.


I'm just the opposite. The convenience of streaming far, far outweighs waiting for a non-specific DVD for me. I figured that out when the last DVD I got from Netflix has sat, unwatched, somewhere in my living room for a month or two. I have to find it to send it back, as I cancelled the DVD portion of my subscription.

I do wish/hope they improve the selection, but on-demand + Netflix has pretty much killed renting DVDs for me.

Well, that just goes to show that it's probably a good idea to separate the two services and let customers pick which one they want.
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"I'm sorry I lost a million subscribers, so here is a plan to lose a million more."

This CEO is brilliant!
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tesuji wrote:


If I promise to screw-up half as bad, can I have his job?
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You know, I hear there's a former Yahoo CEO who's really good at turning suicidal companies such as Netflix aroundster.
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By the way, I think he's getting his verb tenses and aspects wrong.

Simple past: I messed up.
Present progressive: I am messing up.
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MWChapel wrote:
"I'm sorry I lost a million subscribers, so here is a plan to lose a million more."

This CEO is brilliant!


He's taken a company no one thought could possibly compete with Blockbuster and turned it into the industry standard (killing Blockbuster while he was at it). He sees the future correctly and is splitting off the dying media part of the business and keeping the valuable and recognizable brand on the part of the business that actually has a future.

This CEO actually IS brilliant.

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Kafka wrote:
MWChapel wrote:
"I'm sorry I lost a million subscribers, so here is a plan to lose a million more."

This CEO is brilliant!


He's taken a company no one thought could possibly compete with Blockbuster and turned it into the industry standard (killing Blockbuster while he was at it). He sees the future correctly and is splitting off the dying media part of the business and keeping the valuable and recognizable brand on the part of the business that actually has a future.

This CEO actually IS brilliant.



Stock price in July: $291
Stock Price today: $160

Well, I hope this "brilliant" CEO has majority shares, or he may be getting his "brilliant" severance soon.
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I use both services. I think splitting the functionality is fractally stupid. Even with the current setup, you can't simply move an item from your DVD queue to your streaming queue. But in both cases, you are using exactly the same tools to browse and select media. Knowing how each movie is offered helps me make the correct choices. If I have to browse both sites every time I add something, it's going to be painful. There's simply no reason to split it.

I wonder if there's room in the market for a competitor to come along and do it right.
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ekted wrote:
I use both services. I think splitting the functionality is fractally stupid. Even with the current setup, you can't simply move an item from your DVD queue to your streaming queue. But in both cases, you are using exactly the same tools to browse and select media. Knowing how each movie is offered helps me make the correct choices. If I have to browse both sites every time I add something, it's going to be painful. There's simply no reason to split it.

I wonder if there's room in the market for a competitor to come along and do it right.


Exactly. Its a cheap transparent money grab.
They failed to beat their supplier up enough to drive cost of content down. So they have resorted to massive (60%) price hikes.
oops. "What I meant was we are innovating and creating another company you can pay us for" "We will have you pay us twice, maintain two accounts, whilst we keep two sets of books, two content mgt systems, 2 webs sites, two membership affiliations systems, two rating systems....oh this will be awesome for you Mr. Consumer."

Hence the .5% decrease in subs in 30 days. Every one I know in my neighborhood has either cancelled, cancelled one service or is cancelling for 90 days to punish poor behavior. We recently cut cable, and went 100% streaming. So another service will get the money not them.
FAIL.
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MWChapel wrote:
Kafka wrote:
MWChapel wrote:
"I'm sorry I lost a million subscribers, so here is a plan to lose a million more."

This CEO is brilliant!


He's taken a company no one thought could possibly compete with Blockbuster and turned it into the industry standard (killing Blockbuster while he was at it). He sees the future correctly and is splitting off the dying media part of the business and keeping the valuable and recognizable brand on the part of the business that actually has a future.

This CEO actually IS brilliant.



Stock price in July: $291
Stock Price today: $160

Well, I hope this "brilliant" CEO has majority shares, or he may be getting his "brilliant" severance soon.


Sounds like the right time to buy.
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Jeff Jones
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MWChapel wrote:
Kafka wrote:
MWChapel wrote:
"I'm sorry I lost a million subscribers, so here is a plan to lose a million more."

This CEO is brilliant!


He's taken a company no one thought could possibly compete with Blockbuster and turned it into the industry standard (killing Blockbuster while he was at it). He sees the future correctly and is splitting off the dying media part of the business and keeping the valuable and recognizable brand on the part of the business that actually has a future.

This CEO actually IS brilliant.



Stock price in July: $291
Stock Price today: $160

Well, I hope this "brilliant" CEO has majority shares, or he may be getting his "brilliant" severance soon.


Yes because stock prices are so very useful in determining how a company is doing. Any time a company is going through changes, especially painful ones like price hikes, the stock prices may suffer. Here's an interesting one:

Microsoft Stock Price July 2011 - $27.23
Microsoft Stock Price September 2011 - $27.12
Estimated Microsoft profit for q4 2011 - $5.43 billion.

After a while most of the people who cancelled Netflix in a huff because they raised their prices will be back because it is still a very good deal even at the new prices. There is nothing out there that offers the level of convenience as Netflix. When more and more content is added to the streaming side (which will happen now that they have divested themselves of the complication of DVD rights) Netflix will do just fine.




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hipshot wrote:
ekted wrote:
I use both services. I think splitting the functionality is fractally stupid. Even with the current setup, you can't simply move an item from your DVD queue to your streaming queue. But in both cases, you are using exactly the same tools to browse and select media. Knowing how each movie is offered helps me make the correct choices. If I have to browse both sites every time I add something, it's going to be painful. There's simply no reason to split it.

I wonder if there's room in the market for a competitor to come along and do it right.


Exactly. Its a cheap transparent money grab.
They failed to beat their supplier up enough to drive cost of content down. So they have resorted to massive (60%) price hikes.
oops. "What I meant was we are innovating and creating another company you can pay us for" "We will have you pay us twice, maintain two accounts, whilst we keep two sets of books, two content mgt systems, 2 webs sites, two membership affiliations systems, two rating systems....oh this will be awesome for you Mr. Consumer."

Hence the .5% decrease in subs in 30 days. Every one I know in my neighborhood has either cancelled, cancelled one service or is cancelling for 90 days to punish poor behavior. We recently cut cable, and went 100% streaming. So another service will get the money not them.
FAIL.


Failed to beat their supplier up? Are you freaking kidding me? Netflix offered Starz TEN times what they were paying previously. $300 million buck in fact and yet Starz walked away from negotiations because Netflix wouldn't change their ENTIRE business model to suit Starz.

Starz and the other studios are terrified of Netflix because they think they can bully consumers in to viewing content on the content provider's terms instead of what consumers want. We live in a different world and the content providers are doing exactly what music companies did back in the 80s and 90s. The music industry finally figured out that making music available easily and in a way that consumers wanted it was a profitable business model. Eventually the film and TV content providers will figure out the same thing but not before the circle their wagons and try to protect a model that is already dead.

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This thread just reminded me to return "Crazyheart" which has been sitting on my DVD player for about a month now. By the way, I cancelled our DVD subscription and kept the streaming. We use it for kid's shows mostly.
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Kafka wrote:
(which will happen now that they have divested themselves of the complication of DVD rights)


Divested? Did you read the logo?

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BookandGame wrote:
This thread just reminded me to return "Crazyheart" which has been sitting on my DVD player for about a month now. By the way, I cancelled our DVD subscription and kept the streaming. We use it for kid's shows mostly.


Just make sure you watch it first. Good movie.
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Qwickster is such a terrible name in SO many ways. Somehow I think it beats out Syfy.
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Jeff Jones
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MWChapel wrote:
Kafka wrote:
(which will happen now that they have divested themselves of the complication of DVD rights)


Divested? Did you read the logo?



Yeah I read the logo but divesting is the correct word. Qwikster will be a separate company which although owned by Netflix. Why this is important (and interesting) is it splits the negotiations for movie rights from the DVD only customer and streaming customers. Content providers have, up until this point, been able to call upon Netflix' entire customer base when negotiating for streaming rights even if many of these customer never used the streaming service. Netflix will now be able to say to content providers "Here is our customer base" and negotiate on that number.

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