Netflix Down Again: What’s New?

Posted by on Oct 22nd, 2010 and filed under Featured, Tech Stuff. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

From highest to lowest: Netflix stocks went down after outage!

Just a few hours after the stocks of Netflix peaked to its highest ever, customers and stockholders alike lost their connection to the largest internet movie rental and video streaming company in the US.

Netflix, an internet movie rental company boasting 7 million subscribers, admitted that a website outage did occur. Its video streaming operations were put to a halt and customers, including its 17 million shareholders were all asking what happened.

Typically with a company as big as Netflix, a blackout is very much normal. But an outage of several hours, let alone 5 hours is categorically unheard of in any business company of today, most specifically online companies.

According to some sources, Netflix’ popularity catapulted it shares to $19.54,a leap of 13.9% when the daily trading closed. The rate is three times more of what its stock was worth at the end of 2009. Unlike other famous sites like YouTube or FaceBook, Netflix’ services are paid by its subscribers. On average, a subscriber pays as $9.99 for DVD-by-mail delivery and video streaming.

The timing couldn’t be more ironic. The outage came a day after its CEO, Red Hastings forecasted more subscribers will soon be watching more hours of video on the net rather than DVDs which the company delivers through mail.

The company has yet to give any reasons for the said outage. But according to its Twitter account, they have already fixed the problem. However, others might still find it hard to enter in the website using some devices.

“Our engineers have been feverishly working on repairing the problem…It was unanticipated…and we apologize to our customers”, said Netflix in an official statement.


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