Netflix Inc. is losing subscribers to as it increases prices for new and current customers. A Survey done by Jefferies looked at more than 1,100 Netflix subscribers who have received a notification of the price hike and only 65% of them accepted the price change. “The results suggest that the price point could have a larger impact on cancellations,” Jeffries analysts, led by John Janedis, wrote in a note to clients. According to the survey 7% of the respondents had already cancelled their subscription, 4% plan on cancelling and 24% had yet to make a decision. Maybe more telling, of the respondents, 16% who accepted the increase said they would cancel their subscription if Netflix raised prices another $1 in the next two years. This is key as Netflix continues to shell out large amounts of cash to acquire content and solidify its position around the world. Shares of Netflix are down more than 16% in the year to date, while the S&P 500 Index is up nearly 7%.
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