The continuing customer backlash at Netflix is taking on staggering proportions. The company (whose stock, by the way, is down another 7 percent in trading this morning) has lost a quarter of its value in the past month.
Things don’t look to be slowing down, either – and competitors are viewing that as a golden opportunity to swoop in and steal some of those disgruntled customers.
Leading that pack is Blockbuster, which has called a press conference for Friday where it says it will unveil “the most comprehensive home entertainment package ever.” That’s corporate hyperbole at its best, of course, but the upshot appears to be the Blockbuster streaming service is about to become official.
The Dish Network property has been expected to jump into the streaming market for a while now – but has played its cards close to its vest. There have been rumors, though, that it might be offered free to Dish Network subscribers. Other whispers indicate it will include content from Starz, whose current relationship with Netflix is set to end on Feb. 28.
And just to ensure it reaches as many people as possible with its news, Blockbuster plans to stream its announcement online via Ustream.
Netflix saw its problems begin in July, when it announced plans to separate subscription fees for its streaming and DVD rental service, effectively raising the rates for people who subscribed to both by 60 percent. That resulted in the company being forced to lower third-quarter subscription estimates by 1 million.
Late Sunday, it angered people again by announcing plans to separate its streaming and rental-by-mail businesses into separate divisions, eliminating much of the convenience the site has been famous for. Starting in a few weeks, the DVD delivery service will be called Qwikster.