Netflix lowers U.S. subscriber forecast - Shares have fallen nearly 40 percent since price hike

Ever since the price for renting one DVD at a time plus unlimited streaming increased from about $10 a month to about $16 per month, Netflix has been feeling the heat of backlash from internet users and customers alike ...

The decision to increase the monthly subscription for a joint streaming and DVD rental service by as much as 60 percent caused an uproar among customers and bloggers. For U.S. customers, the price for renting one DVD at a time plus unlimited streaming increased from about $10 a month to about $16 per month.

Netflix shares have fallen nearly 40 percent since the price hike was announced.

The Los Gatos, California, company, which is under pressure from Hollywood studios and pay-TV rivals because of its aggressive pricing, has argued that it sees the future in lower-cost streaming services.

I say..justice. I find it great when internet based/user protests come to fruition with visible affect. I understand the amounts of pressure Netflix has probably had from the Film and Television industry, but the amount of their fee hike was just idiotic. I sure most users would have been fine just raising the prices a dollar or two...but what they did was ridiculous...and the content was no better.

Sucks for you, Netflix. Make better business decisions.

...doubly noted that they still have about 22 million users...

Read the fill Reuters article here.