Netflix lost 800,000 subscribers in Q3, still doing okay


I think we all would have been shocked if Netflix hadn’t taken some kind of beating in the wake of the Qwikster debacle, so it’s entirely unsurprising to hear that 800,000 people took their business elsewhere over the past few months. The company blames itself for not properly explaining the changes that were supposed to be going on, but I don’t really think that’s the case. Qwikster was a stupid idea, and there really was no justification for splitting the service into two (thereby complicating things for people who wanted to subscribe to both). In the wake of the price hike, it was just an all-around failure, and Netflix is taking a much deserved beating.

However, even if the loss was worse than the company expected,that 800,000 was only .81% of their total base of (now) 23.79 million, so they’re still doing fine. I think the more interesting number would be the actual loss as opposed to the net loss. I imagine the number went up around the beginning of the quarter and went on a downward slide. I feel like that number is likely a bit more damning. Either way, it may not be good news, but it’s hardly catastrophic.

[Via Engadget]