Netflix splits into two companies, says they 'messed up'
It’s safe to say that Netflix pissed off a lot of people when they announced major changes to their pricing structure this past July. The new setup went something like this: $7.99 a month for unlimited streaming and $7.99 a month for one DVD out at a time. However, if subscribers didn’t actively go in and select a new plan, they would be automatically subscribed to both. The price increase, which was 60% higher than the previous prices, did not go over well. Netflix stocks plummeted, and the company found themselves with several million less subscribers than they bargained for, not to mention the massive internet backlash that followed.
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