∞ Netflix cuts subscriber guidance by 1 million

Peter Kafka:

Netflix, which instituted a price hike earlier this fall, says the higher costs are turning off more customers than it expected. The video rental company has cut its third quarter U.S. subscriber projections from 25 million subscribers to 24 million, a four percent cut. The majority of the shrinkage, Netflix says, will come from its DVD-only customers.

I never thought the backlash would be this bad.