So in July Netflix announced up to a 60% hike in fees and caused a massive customer backlash.
According to the article:
Within a few hours after announcing the change, over 9000 people had comments on Netflix' Facebook page (about 99% of the comments were negative).
Today (September 19th) Netflix' CEO, Reed Hastings, " admitted that he had fallen victim to "arrogance"". They are separating into two functional areas - the DVD by mail that had been Netflix first claim to fame, and Qwikster - a new brand for the streaming video part of the company.
Hastings admitted that " it is on track to lose 600,000 subscribers in the current quarter"
There already has been many comments about the change - ranging from the new name ('why not Netflix Streaming Video instead of Qwikster?" was one comment).
To me, it demonstrates the power of consumers - and the power of social media.
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