OceanJackson

Chris Conway

OceanJackson’s Activity

Thu Jul 26

NL

Watercooler Post

OceanJackson wrote 2:05 PM

I've been a Subscriber of Netflix's service since 2000 - 12 years. I've owned Netflix stock for the majority of its Public existence. I grew up in Los Gatos where Netflix is headquartered. I have friends that work there. No one knows Netflix better than me. I am Netflix's man on the street. If Reed Hastings would just listen to ME - the stock could completely be turned around. And I have been so frustrated with Netflix and Reed. I can't get my message to him. So listen up everyone. All the talk is on Subscriber Counts, and International Expansion Costs, & Content Acquisition....But do you want to know what the insider key to success is? It's the kind of subscriber loyalty and fandom that Netflix HAD for the 1st 10-11 years of it's existence, that it lost over the last 3. The Subscriber Bond to the service is the Rock on which everything sits. Reed - make us love you again and profits and growth will blow through the roof. It wasn't Qwikster, it wasn't price hikes - that alienated us, but those were big F You's. The little spoken truth is that Netflix lost it's rabid fanbase with smaller things. These were things that longtime Netflix subscribers, the core base that recommended the service to every single person they knew - loved and valued about the service. Netflix used to have a Social aspect to it. I used to be able to be 'Friends' with my Brother, Mother, Girlfriend...and anyone else I knew that used Netflix, a lot of people. I used to be able to look at what they'd watched, how they rated it, and what they had at home currently. I got a lot of ideas of what to add to my queue - based on this. You also used to be able to see what ratings you had in common with them, where you really disagreed, and overall - how similar % wise, your taste in movies were to them. This aspect of the service united us. It united the fans...and counterintuitively, it did so for even the subscribers who barely used that part of the service often. One day this feature just VANISHED. No warning. When I called customer service, they said "it's not coming back, it took too much SERVER SPACE." Man what a WEAK excuse. The next thing to happen was, Netflix took away the other Social aspect to its service - the Reviews identities. You can still write reviews and see all the reviews for films and T.V. that have ever been written. But you used to be able to see who had written them. You could add an Icon/Photo to your profile and it appeared next to your review. I could read your review, click on your photo and i.d., and see your other reviews, see how similar my movie tastes were to yours, etc. This added to my time spent on the site, resulting in more additions to my queue, more fiddling around with the queue, and all the while subconsciously - growing my addiction and love of Netflix. So if you want to know the Real Story of Netflix, it's not in the quarterly reports, it's not in media coverage - it is this: When Netflix was at $300 a share, it was riding the cost savings of cuts to their service like these, at the expense of the goodwill of it's ultra-loyal customer base (I'm talking the kind of loyalty hardcore fans of a sports team have). When the fan base was at the end of its alienation, when we felt abandoned, used, and left out in the cold - i.e., Qwikster & price hikes for not just fewer DVD's out per month, or lesser Streaming Hours - but for a lesser Website Service as well, the stock plummeted. As with any stock, there's the story of what you see on the surface, and the story of what really happens underneath. The bottom line is, everyone thinks Netflix could differentiate itself and beat Amazon, Hulu-Plus, RedBox etc...with more and better streaming Content. This is important. But what Netflix really needs to do, is make us love them again. There is SO MUCH they could do to make their subscribers happier via features of the service that they aren't doing. I no longer have a good experience on the Website. It's very Corporate and cold. Well hey Reed, you saved money, but look at what it's costing you. You might very well end up losing the end-game because of it. I haven't recommended your service to anyone lately. I still use it because - it's a value, and is still the best option. But I'm not excited about it. I'm not surprisingly happy with it like I used to be, for 10 years in a row. You're a growth company right? You need more subscribers right? How are you going to get 7 Million this year without someone like me recommending it and talking about it to dozens of people? It's such an easy fix Reed. Bummer.

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