Skip to main content

Netflix stock drops by nearly a third since price hike announcement

netflixWhile the NASDAQ has dropped by about 18 percent in the last month due to the recent stock market turmoil, Netflix stock has dropped at a much sharper rate over the last 30 days. Trading at a high of about $298 in mid-July, the stock has dropped by approximately 31 percent since the announcement of a September 1 price increase for subscribers interested in continuing to access both digital content and disc delivery. It’s now trading just over $200 as of today. While the stock hasn’t shown any sign of recovery in the third quarter, Netflix officials are predicting that resistance to the price changes will fall drastically in the fourth quarter. Investors are also concerned about the rising costs of content due to recent negotiations with production companies.

Netflix CEO Reed HastingsIn mid-July, the company announced a shift in pricing policy and will be transitioning all subscribers on the $10 a month plan, for both digital content and physical discs, to a $16 plan for both services. Subscribers have been notified of the changes via email and have the option of discontinuing the plans before the price increase occurs next week on September 1. The most common complaints around Netflix’s streaming services include a limited library and low quality video due to streaming limitations typically related to the Internet service provider. In hopes of expanding audience size, Netflix did announce a deal with Telemundo today that allows Latin America subscribers to stream up to 1,200 hours of Telemundo content per year.

Amazon had an streaming video announcement last week as well. Members of the Amazon Prime service have access to a barrage of new movies and television shows which increases the Amazon Prime library for instant streaming to over 5,000 titles and the total Amazon Instant Video library for purchase to over 100,000 titles. However, Amazon doesn’t have the same level of availability at Netflix when it comes to built-in device applications as well as mobile apps.

Editors' Recommendations

Mike Flacy
By day, I'm the content and social media manager for High-Def Digest, Steve's Digicams and The CheckOut on Ben's Bargains…
Samsung S95D OLED first look: a reflection on excellence
Samsung S95D OLED

I recently traveled to New Jersey to visit Samsung for an up-close and personal look at the flagship TVs in its 2024 lineup, which includes Samsung’s 8K Neo-QLED and 4K Neo-QLEDs, and the reason we’re here today: the S95D.

The S95D is Samsung’s flagship OLED TV for 2024, and it has been the subject of some consternation for some TV enthusiasts because it has a new anti-glare or anti-reflective screen coating. Is there any merit to that concern? Has it overshadowed how good this TV could actually be thanks to a new 3rd generation QD-OLED panel? Is it any brighter? Should we be excited about this TV?

Read more
Buy one of Samsung’s new TVs and get a free 65-inch 4K TV
Two majestic elk lock horns in a snowy scene shown on a Samsung QN90D.

We’ve seen many great TV deals in our time but one where you buy one TV and you get one free? That’s new on us! That’s exactly what will happen when you buy one of the new Samsung 2024 TVs at Best Buy. Add it to your basket and you can also get a Samsung 65-inch TU690T 4K TV entirely for free. There’s even free delivery and display setup and mounting for each TV. This is a fairly unbeatable offer but if you still want to know a little more about it, keep reading while we take you through what to expect.

Why you should buy a new Samsung 2024 TV
Encompassing a range of Neo QLED 4K and 8K TVs, Samsung’s latest announcement regarding new TVs in 2024 is pretty exciting. It includes the Samsung QN900D 8K TV which we recently got early access to as well as more affordable models like the QN90D Neo QLED 4K TV and QN85D Neo QLED 4K TV.

Read more
Sennheiser’s fantastic Ambeo all-in-one soundbar is $800 off today
The Sennheiser Ambeo Max 5.1.4-channel soundbar in the living room.

There are soundbar deals for basic and budget-friendly models, but if you want the best possible audio for your home theater setup, you're going to have to make a significant investment. If you're willing to spend some serious cash, check out Best Buy's offer for the Sennheiser Ambeo Soundbar Max. An $800 discount brings its price down from $2,500 to $1,700, which still isn't cheap, but it's actually a steal for the cinematic experience that this soundbar will enable. You need to hurry with your purchase if you're interested though, as its price may return to normal as soon as tomorrow.

Why you should buy the Sennheiser Ambeo Soundbar Max
The Sennheiser Ambeo Soundbar Max is the more powerful model of the Sennheiser Ambeo Soundbar Plus that's featured in our roundup of the best soundbars. It's a 5.1.4-channel soundbar, which means it offers five channels -- the standard left and right channel, a center channel for improved dialogue clarity, and a pair of surround sound speakers -- a subwoofer, and four dedicated drivers that fire upwards to enable Dolby Atmos surround sound, as explained by our guide on how to buy a soundbar. The all-in-one soundbar will also allow you to customize your listening experience with its built-in equalizer.

Read more