Netflix Earnings: 800,000 U.S. Subscribers Lost in Q3
TL;DR
Hastings acknowledged 'Netflix not listening' on earnings call
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Contemporary reporting on Netflix's Q3 2011 earnings call where Hastings acknowledged the Qwikster decision was 'Netflix not listening.' Documents the timeline: July price increase announcement, September Qwikster spin-off announcement, October reversal. The admission that Netflix 'wasn't listening' despite having extensive customer data illustrates the gap between sensing and transduction.
Key Findings from Staff (2011)
- Hastings acknowledged 'Netflix not listening' on earnings call
- Timeline: July (price hike) → September (Qwikster) → October (reversal)
- Company had customer data but failed to act on it quickly
- Q3 2011 marked first subscriber decline