After a year that has many questioning its business model and the sanity of its CEO, Netflix is being soundly punished in the court of consumer opinion. Research firm ForeSee has released the results of its annual survey of the top 40 e-commerce sites, and Netflix has predictably taken a mighty tumble.
Formerly the number one-ranked company, Netflix’s survey score dropped 8% to 79 on a scale of 100.
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According to ForeSee, any score under 80 could lead to customer attrition and loss of market share.
According to the report:
“Netflix seems to have forgotten how they created a much-loved brand and why people loved their service so much . . . In fact, Netflix totally misread its customer base, damaging its brand among both consumers and investors at a time when providers of streaming and rented-video content proliferate the market.”
Netflix’s streaming competitor, Amazon, received a score of 88, which is an all-time high for the annual report. Said ForeSee:
“Since Amazon and Netflix are now in direct competition for market share when it comes to streaming video and rentals, this report could spell troubled months ahead for Netflix,”
What can Netflix do to get back into consumers’ good graces? Is its loss of the number one spot permanent?
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(via Home Media Magazine)
It would be interesting if the satisfaction survey was itemized between streaming AND mail-order. Assuming that Netflix’ streaming satisfaction rating was comparable to Amazon’s, then it was the *mail-order* [or Qwickster] fiasco that brought down its score.
It will just be a matter of time before Netflix sorts out this mistake. Call it a self-imposed *black eye* that will take a few months to heal.
No doubt, the Qwikster fiasco is to blame for a lot of it, but I’m sure the 60% price hike for people on the hybrid plan (DVD & Streaming) plays into it, as well.
@Mike R. 2
Just a as a point of clarity, even though Netflix doesn’t make it public, subscribers can still get monthly *mail-order only* plans for $4.99 and up.
It would be excellent (for Netflix AND consumers) if they were to admit their mistake and find some common ground…………bring back the hybrid plan at a savings – as opposed to having to pay $7.99 EACH for both streaming and “mail order”. Even a price of, say, $12.99 for the hybrid plan would be more acceptable than paying for both plans individually. Streaming is not worth $7.99 a month to me but I would pay a few dollars a month for it. If needed the hybrid plan could have a limited number of hours of streaming (10?) with it. Anyway, a reasonable hybrid plan like that would bring me back to Netflix………..
I personally don’t mind at all not being able to get anything but streaming. If they increased the price on that I WOULD be upset. I agree the survey should have been split between DVD and streaming. Results might have been very different. I’m wondering why I am NEVER asked to participate in a survey?
Price hike was not great, as the streaming content was getting limited (old material). The mail order was great as it would be maybe 3 days between arrivals, but was also getting limited. They need to update their contents.
I agree, I dropped the streaming because all of the material was old and Stars won’t be included any more. That was all I watched.
It doesn’t sound like people are too upset base on the above comments. I have the 3 dvd plan plus streaming. I get about 25 movies by mail a month(mostly blu-ray) and stream about 10 hours a week(family of 6, 3 genrations). I do rent from Redbox when necessary. I have not heard any complaints from my co-workers and friends about Netflix price increase. You get what you pay for. What Netflix needs to continue to do is acquire more streaming content. Netflix is still the cheapest game in town.
By the way Streaming will one day cost more due to your internet services provider. They will charge high bandwith users.
The best part about Netflix streaming is the fact that they have older videos. I can go to Blockbuster and Redbox for newer videos. I would pay up to $10. a month for Netflix because they have so many, many, many choices for video.
P.S. I am still trying to watch one of the Harry Potter movies I bought, Half-Blood Prince. I can watch about 3 minutes of it before it gets so boring I have to shut it off. I have started watching it 4 separate times. So far, I have watched 12 minutes of it, Does it ever get interesting?????
You can get oldies @ BB as well via the mail. Better set-up then Netflix IF you have a brick & mortar store nearby with the in-store exchanges and mailers for both movies & games. Of course with the closure of hundreds of stores it’s no longer what it once was.
Harry Potter? Hmmm, no. Best to rent b4 u buy. Best not to buy at all on 98% of Hollywood releases anymore. Quality has died in Hollywood for the most part.
Transformers? Noise. Sherlock Holmes. Bad CGI. And on and on…
I came back to NetFlix streaming for the $8.00 bucks a month. I now see they have over 2,000 Movies and TV shows that has Closed Caption on them on the streaming. And I do need the CC. As I am hard of hearing. I also have Block Buster Two at a time out. And can take them back to the store and get two free ones. And I use Red Box when I need it.
This is all great for me. Under $30.00 a month and all the Movies and TV shows I can watch.
Rock on.. 2012 may be Ok yet!
They learned expensive lessons (1) do not raise prices all at one time (instead do it gradual) (2) do not change what made you successful (aka qwikster) and (3) listen to your customers first – not some internal “consultant”. Hope they fired whoever came up with the sorry advice.
Sounds like those quotes were by professional competition and not by average users. I love Netflix. Noone asked me. . . .
The number of older material in Netflix streaming didn’t bother me. Most new films are not worth my time.
We had fun introducing my sons to some old classic shows that they loved.
An apology along with a price discount incentive to their former customers would go a long way. I had been a Netflix subscriber for 5+ years and brought them many other customers over the years. In return, I was given a price hike along with less service (I used to have 3 dvds and streaming). I am no longer with Netflix and encourage as many as I can to drop the service. I don’t believe in supporting a business that doesn’t care about their customers. I could not believe their insulting email on the whole splitting dvd and streaming websites. When they realized they had made things worse doing that, they actually sent an email that read between the lines of saying because our customers are so stupid, they can’t handle having 2 different websites. It’s sad to see a business that had so much potential get greedy and throw it all away. They have no one to blame but themselves and I hope others learn from their mistakes.