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Jaswanth Jegan
Stealth • 6m
"Netflix lost almost a Million Subscribers" Bankruptcy to Billions #7 Netflix turnaround from significant crisis In 2011 Netflix announced a change in its pricing and subscription plans. Initially customers could subscribe both DVD rentals and streaming for a single price then netflix split them into separate plans. For the customers who wanted both subscription it was a 60% hike in price.This decision was met with backlash from customers leading to a significant crisis for Netflix. More subscribers cancelled their subscription in protest against the price hike they almost lost 80 lakh subscribers.Their stock plummeted by 75% resulting in billions of dollars in market value loss. Netflix ultimately apologized for the changes and they shifted to invest heavily in original content production to produce value for the price.Over time, Netflix managed to regain some subscribers through successful original content releases like "House of Cards" and "Orange is the New Black."
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