Backlash grows against Netflix price hike. (San Jose Mercury News, 7/13/2011)
Excerpt: In the space of a day, Netflix (NFLX) seems to have transformed itself from one of the best-loved companies to one of the most hated -- at least among thousands of its customers.
After the Los Gatos-based DVD and streaming video company announced Tuesday that it was raising rates as much as 60 percent, tens of thousands of disgruntled subscribers flooded social networking sites with complaints and threats.
"Sorry Netflix, but you're losing another customer of many years," read one of the more civil posts.
Because of a growing chorus of sentiments like that,the price hike is beginning to look like the company's first major misstep -- and one that could damage its business as consumers consider alternatives.
One analyst said the company might be forced to retreat, but Netflix held its ground, with a spokesman comparing the rate increase to the cost of "a latte."
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