Netflix was not so chill back in 2011! Do check out my recent case study on the Netflix Debacle on MarkSell!
Sometimes sharing an idea with your target customers & getting feedback can help you save a fortune! In Netflix's case, the same happened and they started running before they could even walk. Back in 2011, where video streaming was just catching up steam, the price increase was a very serious step which Netflix should have thought through.
But as they say it, all the big mistakes teach us something. So this also was a very important mistake which helped Netflix come up with better pricing strategies, better content & it saw its growth in the future years.
It now has 180+ million streaming subscribers worldwide. The DVD business lives on, with about 3.4 million subscribers at last count. The medium is ever-growing, let's see in India how does it compete with other rising platforms!