This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Netflix Price Cuts Unlikely: CFO

NEW YORK ( TheStreet) - Netflix (NFLX - Get Report) has seen a significant backlash from subscribers regarding its 60% price hike but don't expect the embattled company to back down any time soon.

Speaking to investors for the first time since announcing the company's plans to separate its streaming content and DVD-by-mail businesses, Chief Financial Officer David Wells said at the Goldman Sachs Communicopia Conference taking place in New York this week that it's unlikely Netflix will lower prices or offer three-to-six month discounts.

"It is a little like kicking a can down the road," Wells said.

But he didn't go so far as to say it would never happen. "Certainly it is in the realm of possibility, but I don't think it will win back the customers we lost."

Netflix's price hike went into effect this month. The company separated its popular DVD-by-mail and unlimited streaming service into two packages priced at $7.99 per month each, for a combined cost of $16. Previously, the combined package cost subscribers $9.99 per month.

These prices will remain the same when the company breaks off its DVD-by-mail service into a new company called Qwikster, while the streaming service will remain under the Netflix banner.

-Reported by Jeanine Poggi in New York.

Follow on Twitter and become a fan on Facebook.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
NFLX $90.03 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs