Reed Hastings

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Netflix Claims Credit-Card Chips Messed Up Its Growth

Not everyone is buying finger-pointing at new fraud-prevention technology

(Newser) - Everyone who is too lazy or forgot to update their credit card numbers online can blame themselves for Netflix's slow US subscriber growth. That's the company's excuse, anyway, revealed in a Wednesday letter to shareholders that says it didn't hit its subscriber growth forecast partly due... More »

Expect More Arrested Development

It's one of several Netflix projects in the works

(Newser) - The triumphant return of Arrested Development may have fizzled a bit last year , but Netflix is looking to try again. Chief content exec Ted Sarandos tells USA Today that he's "positive" another season is coming, though its timing depends on the actors' schedules. The plan is to have... More »

Netflix Hiking Prices—for Some

Only for new members, at least at first

(Newser) - The bad news: Netflix is upping its prices this quarter. The good news: If you're already a customer, you'll get a "generous" grace period during which you'll continue to pay the current $7.99 monthly streaming fee, the company announced today in its quarterly earnings release.... More »

Netflix Gives Eye-Popping Raise to CEO

Reed Hastings gets rewarded for stock's meteoric rise

(Newser) - Netflix CEO Reed Hastings is being rewarded handsomely for the network's recent success in the original content game. The CEO's pay will jump 50% in 2014, according to regulatory filings spotted by Reuters . He'll make $6 million, split evenly between stock and cash. Other top executives will... More »

Netflix Now Biggest 'Cable Network'

With 4B minutes watched in 1Q, Netflix surges

(Newser) - Netflix customers watched more than 4 billion hours of programming in the first quarter of 2013, said CEO Reed Hastings in a Facebook post last night, a number that could make the online streaming service more popular than cable, reports the Huffington Post . With 28 million users, mostly in the... More »

More Billionaires Agree to Give Away Half Their Wealth

But where's the money going?

(Newser) - Bill Gates and Warren Buffett have convinced 11 more billionaires to give away half of their wealth. The richies, including Netflix CEO Reed Hastings, will bring the total number of families participating in the "Giving Pledge" to 92. The campaign, launched two years ago, aims to convince the wealthy... More »

Netflix Profit Plummets 91%

Higher subscription costs hurt second quarter earnings

(Newser) - Apple isn't the only one who has hit a rough patch —Beleaguered Netflix is also taking a drubbing after posting a 91% drop in net income for the second quarter. Shares responded by dropping almost 15% in after-hours trading yesterday. The company’s decision to separate its DVD-by-mail... More »

Shareholders Sue Netflix

Class-action suit says company issued 'misleading statements'

(Newser) - Netflix's shareholders are none too happy with the streaming video giant's plummeting share price, and now they're biting back with a class action lawsuit. The suit, filed recently in California, alleges that Netflix "issued materially false and misleading statements," and failing to disclose crucial info.... More »

Netflix Boss' Stock Options Cut in Half

Reed Hastings pays for battered share price

(Newser) - Netflix CEO Reed Hastings is paying the price for the price hike / Qwikster debacle that has sent the company’s share price down 75% since July. Hastings' annual stock option allowance will be cut by 50%, bringing it to $1.5 million, the company revealed in a regulatory filing... More »

Netflix Stock Tumbles 35%

Aggressive expansion, subscribers' departure add to woes

(Newser) - Amazon’s plunging profits may have Jeff Bezos worried, but he can take solace in the misery of a competitor: Netflix stock dropped a whopping 35% to $77.37 yesterday following some bleak announcements the day before. On Monday, the company said its US subscribers had plummeted and that... More »

Netflix Loses 800K Customers

As stock plunges, CEO blames Tea Party, Occupy Wall St.

(Newser) - The horror movie isn't over for Netflix shareholders. The company, facing a customer revolt over price hikes, posted third-quarter results that were even worse than expected, Bloomberg reports. The company has lost around 800,000 subscribers since June, leaving it with 23.8 million, when it had predicted that... More »

RIP Qwikster: Netflix Will Keep DVDs

CEO Reed Hastings says move was 'too fast'

(Newser) - Ah, Qwikster, we hardly knew ye. Probably because ye never launched, and never will. Netflix abruptly changed course today, announcing that it would not be slicing off its DVD-by-mail service into a separate site after all, Reuters reports. “There is a difference between moving quickly—which Netflix has done... More »

Netflix Split: Insanity or Genius?

Following news of Qwikster, some are leaping to defend the move

(Newser) - Netflix CEO Reed Hastings certainly sent tongues wagging when he announced last night that Netflix was spinning off its DVD business into something called "Qwikster." Was the move visionary or boneheaded? Here’s what people are saying:
  • Hastings’ post “feels like yet another failure to communicate,”
... More »

The Most Creative Minds in Business

(Newser) - Creativity is a tough thing to put your finger on, but Fast Company takes a shot at picking world’s top 100 business innovators. The first five:
  • Jonathan Ive: Apple’s design chief—responsible for the iPhone, iPod, MacBook, and iMac—ushered in an era of “design perfection” that
... More »

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