Netflix Shares Tumble as Subscribers Bail After Price Increase

watching tv large 1 150x150 Netflix Shares Tumble as Subscribers Bail After Price IncreaseNetflix can’t be to happy after shares slid 15% Thursday morning after the movie giant said it was lowering its subscriber estimates by 1 million for the third quarter of 2011.

The loss of subscribers comes after the company announced a $6 price hike for its one DVD a month service and a smaller increase for its 2 DVDs per month.

Did you end up canceling your Netflix service after the price increase? Did you switch to a competitor?

Read more: http://moneywatch.bnet.com/economic-news/blog/moneywatch-editors/netflix-shares-plunge-after-weakened-outlook/715/

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