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Netflix Ceo Blames Credit Card Changes For Subscribers Leaving Service

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http://www.theguardian.com/media/2015/oct/14/netflix-ceo-blames-credit-card-changes

Netflix chief Reed Hastings blamed changes at credit card companies for subscribers leaving the service as the company reported disappointing growth figures on Wednesday.

The business had predicted US subscriber growth of 1.15 million users; in fact it had added only 880,000 in the third quarter of 2015, down not only from its prediction but from its third-quarter 2014 increase of 980,000. The company’s stock price plummeted nearly 12% on the news and then bounced back somewhat.

“Next quarter, we’re definitely going to have low guidance in July,” Hastings told analysts on the company’s earnings call.

The video service behind award-winning series Orange is the New Black and House of Cards had been the biggest player in the streaming game until relatively recently, when competitors have begun to enter the market in earnest.

Amazon and Hulu have begun to invest heavily in prestige drama and comedy series. Amazon’s Transparent was the stand-out winner of last month’s Emmy awards. HBO too has also entered the fray, offering its own stand-alone streaming service.

Hastings and CFO David Wells blamed the domestic dip on consumers letting their accounts lapse, which he attributed to credit cards changing en masse. Widespread fraud has caused both Visa and Mastercard to hurriedly reissue harder-to-steal cards with chips in them rather than just magnetic strips.

A new excuse to add to the snow, it's cold, too hot etc...

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Netflix cut about 50% of the programmes available in August/September. I don't know if this was limited to the UK/Europe, or if they did the same thing in the US, but why wouldn't people cancel the service in response.

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You can actually watch Netflix from any region either through a free proxy or paying 10-£20 for a lifetime connection to something like smartdnsproxy.com

This let's you choose which country's netflix you can watch. The USA/Canada version is actually worth the money, the UK version is pretty dismal in most areas except Netflix originals. You can also share your subsritption between up to 2/4 (can't remember which) people who can watch simultaneously so the cost of a subscription comes down to £3/mth or lower. Between that and Iplayer do people actually need Sky.

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I'm not sure how the CC companies adding a chip to the card prevents it from being used to sign up to NetFlix. Sounds to me like the CEO thinks that no one knows how to think any more and so any old bo11ocks will do as an excuse.

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You can actually watch Netflix from any region either through a free proxy or paying 10-£20 for a lifetime connection to something like smartdnsproxy.com

This let's you choose which country's netflix you can watch. The USA/Canada version is actually worth the money, the UK version is pretty dismal in most areas except Netflix originals. You can also share your subsritption between up to 2/4 (can't remember which) people who can watch simultaneously so the cost of a subscription comes down to £3/mth or lower. Between that and Iplayer do people actually need Sky.

I've got Hola on Firefox and Netflix USA as the home page but it went weird, No movie descriptions and very difficult to get a movie running.

Do any of the other movie streamers allow multiple users? I could arrange with family members to each subscribe to a different service.

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I just had a new Capital one card without asking, along with some blurb about accounts being compromised. Fraud now amounts to millions every year.

I like netflix and think its good value. I avoid Sky like the plague.

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Maybe people are getting sick of watching sh1tty US boxsets. Goodness knows how people sit through 30 episodes per "season" of the same rubbish, it appears to be the highlight of some people's evenings. Now that there are no movies worth watching it's a total waste of time and money.

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People pay to watch TV?.

Up here in the north east most people have free Sky and every movie and TV show every made free.They all used to use Skyboxes but now use the Amazon firesticks and put the apps on them.Its the new Northern Powerhouse.Saving multi millions from being sucked out of the northern economy :lol:

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I've got Hola on Firefox and Netflix USA as the home page but it went weird, No movie descriptions and very difficult to get a movie running.

Do any of the other movie streamers allow multiple users? I could arrange with family members to each subscribe to a different service.

Hola is generally not recommended anymore http://adios-hola.org/

If you want to use other regions on netflix you should use a paid smart-dns such as unblock-us or uno-telly.

It costs about $50 a year.

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When Amazon took over Lovefilm it was a disaster. Poor web interface, poor service. They now appear to have got their act together. Prime seems better value with free postage, downloadable streaming music, cloud service and kindle lending in addition to the prime video service for the same fee. I suspect that and Netflix's decision to remove a lot of titles won't help their figures.

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