News
Netflix Luring Back Old Subscribers
By Swanni
Washington, D.C.
(May 17, 2012)
-- Netflix yesterday said that one-third of its new subscribers
are customers who previously dropped the service.
That's according to an article by PC World Magazine.
The publication reports that Netflix CFO David Wells told the
J.P. Morgan Technology, Media and Telecom Conference that the
number could be higher because his company only keeps customer
data for about a year. Still, for so many subscribers to return
is "encouraging," Wells said.
Netflix lost roughly 800,000 subscribers last year after
changing its pricing structure, which led to a 60 percent price
hike for some. However, the company has been able to regain
those subscribers since in part to free promotional offers.
In its first quarter report, Netflix warned that subscriber
growth could slow later this year due to a variety of reasons.
Wells acknowledged that Netflix still needs to shore up customer
faith in the company, saying it took a "brand hit" last year
after the price hike.
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