Verizon Considering Purchase of Netflix

schwit1 writes "Shares of Netflix soared more than 6% Monday on a report that Verizon Communications is considering buying the troubled movie renter. Verizon is reportedly evaluating whether a purchase of Netflix could provide an entry into the video delivery business, DealReporter said, citing a source close to the matter. The news comes as Netflix continues to struggle from a series of missteps earlier this year when it raised subscription prices and separated its DVD-by-mail service and streaming. Netflix's stock price plunged to a new 52-week low two weeks ago when the company warned it would fall to a loss in 2012 if it failed to boost its bruised customer base."

Comments

Can you screw me now?

[Anonymous Coward]

Wowsers, if you thought Netflix was nickel-and-diming you, wait til Verizon gets hold of them. Probably cost you a quarter every time you use fast forward.

Re:Can you screw me now?

[Anonymous Coward]

Good! After all the whining of a measly $2/month increase in price brought on Netflix by the movie studios, I'd say the spoiled brats that make up TEH BLAGOSPHERE needed a cold, hard lesson in "shut your fucking trap and learn to appreciate what you've got or someone might make it worse"! If it weren't for their incessant, self-centered whining*, Netflix wouldn't have lost quite so many customers and money and would've still looked too expensive for Verizon to absorb! So, congrats on digging too deep, guys! All hail Verizon! :-D

*: You may point out that, by definition, whining is already inherently self-centered. To that I say, well, touche.

Re:Can you screw me now?

[jamsessionjay]

How is netflix nickel and diming me? It's one rate for streaming to multiple devices, then X amount more depending on how many physical discs you want to hold.

Nickle and diming is what Verizon does - X amount for Y amount of texts, or download limits, or download speeds, or service areas, or content packages, or voice minutes, and of course this is also largely dependent on which device you are using. And multiple devices? psh. Overcharges on service? That's a another horrible part right there.

That's real nickle-and-diming. There are so many gotchas I'd need a small book to describe it all. But this netflix hate I do not understand - it's simple and cheap. Is it that you want their service to be free?

Re:Can you screw me now?

[Luke727]

I already had a relatively expensive plan so it was only a few bucks for me, but some people's plans almost doubled in price. Granted $7 or $8 is not that much in the scheme of things, but if my price doubled overnight without bringing any improvements in the service then I might also be pissed. I understand it was out of Netflix's control, but the condescending (lack of) explanation was a huge misstep. They should have just been forthcoming and honest about it and a lot of this rage could have been avoided.

Re:Can you screw me now?

[wisnoskij]

Would +1 if I had mod points.
That is the whole point, it was never that expensive, but it almost doubled in price (and was a whole lot more then $2 mentioned).
And to make matters worse the company was like. "We are sure that our customers absolutely love how their bill will be double next month while getting the exact same service. What an amazing thing we are doing for our customers."

God no

[CodeReign]

The CRTC will have a fit and use it as even more reason to keep the lecherous US company from stealing Bell's customers. Damn them netflix hooligans with their fairer prices.

Oh God no

[realmolo]

If Verizon buys Netflix, we'll be paying $15/month for streaming to ONE device at a time, and the DVD delivery will be dropped entirely.There will be a limit of 15 streams a month per account, or 50GB of data, whichever comes first. Additional streams will cost $3.99 each. And you'll have to sign a 2-year contract. And if you want to stream to your PHONE, that will be another $15 a month, on top of the $15/month membership.

NEW!

[Anonymous Coward]

Streaming that only works well on verizon internet!

Please no, Verizon.

[theVP]

You know, it's bad enough that ISP's, Verizon definitely included, are using bandwidth caps now, which limits the attraction of a service like Netflix.

It's bad enough that Verizon charges you extra to use functions on your phone that don't have a damn thing to do with their network at all (Mobile Hotspot).

I don't think I want to know how they manage to ruin Netflix, if they were to snatch it up.

And again the content carrier becomes...

[milbournosphere]

the content producer. Should this actually happen, it could in no way be good for Netflix's customers, or even the market in general. Content carriers really should be separate from the producers of said content. It provides far too many opportunities for conflicts of interest, including (but not limited to) bandwidth and price preference. This is a bad idea; the telcos have proven time and time again that they are not to be trusted.

Netflix vulnerable

[ackthpt]

After their recent misstetp they'll likely be a bargain buy. Expect Verizon to only be interested in the technology, IP and media rights portfolio, while they ditch the people who are running the company.

I love Netflix

[killmenow]

I am a long time customer. I love it. Even with the latest mis-steps, I am still a happy customer. Yes, they screwed up. But the service is still totally worth it to me.

But if Verizon buys them, I'm cancelling. I just cannot imagine any way that they wouldn't completely destroy Netflix's value proposition.

Re:I love Netflix

[praxis]

Not that I don't think you're right, but if you love the service and it's worth it to you then why not wait until they destroy Netflix's value proposition rather than doing it preemptively?

Re:I love Netflix

[apcullen]

Because the first thing verizon would do is remove the "cancel my service" button that netflix has. You'll have to sit on hold an hour to get your service turned off or even downgraded.

Re:I love Netflix

[Sponge Bath]

first thing verizon would do is remove the "cancel my service" button

Please someone mod this up. Too many sleaze bag companies use the "make it painful, time consuming and difficult if not impossible to cancel" policy as a way to limit turnover instead of providing good service. That is what turned a planned temporary cancellation of DirecTV into a permanent, bitter grudge to the grave unwillingness to ever do business with them again.

When Netflix's streaming library started shrinking rapidly (including a disappearing TV series I was halfway through) about the same time as the 60% price hike, at least it was easy to cancel. That left me with enough goodwill that I would consider subscribing again if they ever manage to start growing their streaming content. That would not happen if they became just another Verizon service.

Re:Verizon would make it worse off.

[Grave]

The "one price fits all" model just doesn't work very well in the real world.

It doesn't work very well in the idiotic playground of RIAA/MPAA execs. While they may presently inhabit the real, physical world, the term "real world" implies something a bit more broad, and I don't believe the "one price fits all" model has been demolished for all markets.

Dear Verizon...

[pla]

I have stayed with Netflix through their recent screwups because they still offer exactly what I want for the price I want, and I don't particularly hate them as a company. And despite what everyone bitches about, my rate hasn't actually changed (except down!) since I originally signed up way back in their early days.

I do, however, loathe you as a company, with every fiber of my being. If you buy Netflix, I will drop my subscription before the ink dries.

So please, don't. I would prefer to keep my Netflix subscription. I will not, however, ever do business with Verizon, under any name I recognize as affiliated with them.