From the LOS ANGELES TIMES:
The online video and DVD rental company discloses that rather than adding 400,000 subscribers in the current quarter, it is poised to lose 600,000.
Shares in the online video and DVD rental company plummeted nearly 19% on Thursday after Netflix disclosed that rather than adding 400,000 subscribers in the current quarter, which ends Sept. 30, it is poised to lose 600,000. That would leave it with 24 million users in the U.S. instead of the 25 million the company previously told investors to expect.
The surprise development marks a significant miscalculation by Netflix about how consumers would react to the change in pricing it announced in July that increased many people’s monthly bills…
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