Netflix customers may not like the fact that the streaming video company has just boosted the price of some of its subscription plans by as much as 60 percent. But investors in Netflix seem to be happy with the moves. CNN Money reports that at the moment the stock price is up by nearly 3 percent today and did reach an all time high.
Apparently investors believe that the price hikes, which affect customers that use both the DVD mail order service as well as the streaming video business, will ultimately be good for the bottom line. One reason is that investors believe that many current Netflix customers will simply continue to use the service even after the price hikes go into effect on September 1.
However, as we have reported earlier today, there is a massive amount of outrage by current Netflix subscribers to the changes. The Netflix blog site and Facebook site, among many others, have been flooded with messages about the decision with the majority of them against the price hike and many saying they will either cancel or cut back on their subscriptions. Currently, Netflix has a total of 23 million subscribers but it's not known how many of them have the DVD-streaming combo deal
In the meantime, Netflix hasn't officially commented on the net protests. Instead, the company announced it has renewed an agreement with NBCUniversal to offer a number of their movies and TV shows on their streaming video service. That includes offering episodes of TV shows like 30 Rock and The Office one year after they are shown on NBC.