Netflix shares dropped 40 points points today to close at $169. Why? Well for a couple of reasons..number one they lost 1 million subs this fall because of their price hike, and in addition to that they lost a good portion of their Starz catalog, taking away a good chunk of their streaming movie offerings.
Netflix had an amazing run, they took out Blockbuster video and their absurd "late fees", lame selection, and lines that you had to wait in on Friday and saturday nights.
I've brought it up many times before that in my perfect world we have everything available to us instantly anywhere we are and on any device we want and all of this for a fair price. For example lets say that for $40/month we have access to every song ever recorded, every book ever written, every TV show, And every movie.
Netflix gives us a good selection of movies for $7.99 streaming, but it's fragmented..we don't get everything. Because major cable companies are scared and they are pressuring netflix (they probably influenced the starz take away deal) I hate the cable companies like comcast and time warner!!...
It takes a one in a lifetime visionary like a Steve Jobs or Jeff Bezos from Amazon to break these pressures. The day the Kindle was announced all paper publishing became obsolete and ridiculous, thanks Jeff for helping to wreck these lame publishing companies...Steve Jobs took out the record companies with his iTunes Library. (Sony et al had no idea that iTunes would take off like it did)
Apple and Amazon will use their magic to incorporate netflix like capabilities into what they have. (they already do as a matter of fact with Amazon streaming) Amazon is already trying to get a deal for a monthly all you can eat "netflix for books" and it's only a matter of time. We're still in the Wild Wild West, and in fascinating times....If I were to guess who gets that's future $40/month?
AMAZON...and netflix will be relegated to great tech things of the past like Yahoo!, and the Netscape browser.
Thursday, September 15, 2011
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2 comments:
Very possibly they will be the next Yahoo. But not this week. The 40 point loss will bounce back within a week.
They Better bounce back.......or else I'm gonna be borrowing food from you
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