It looks like they’re back in business. After some very risky business model changes that resulted in customer backlash and plummeting stocks, it seems
Qwikster Netflix has begun to turn things around. Earlier this month Netflix released statistics that showed their stocks were actually back on the rise (an 11 percent surge, to be precise) and now analysts are giving credit to the company for turning things around in the volatile environment.
According to Reuters, thanks to continual stock rising, “Analysts at Citigroup, Barclays and J.P. Morgan Securities raised their price targets for Netflix, saying the customer growth may help alleviate investors’ concerns about its ability to restart subscriber growth. Citigroup also upgraded the stock to ‘buy’ from ‘neutral.'” As business improves for Netflix, CEO Reed Hastings (once Saturday Night Live fodder for his business ventures over the past few months) told shareholders in a letter that he’s not worried about the competition from streaming services such as Hulu Plus and Amazon.com.
Among their recent moves to edge out the competition, Netflix has revived the beloved cult series Arrested Development and will try their hand at original programming, including Steven Van Zandt’s crime comedy Lilyhammer, both of which will be exclusive to their users.
Have you returned to Netflix, PopWatchers? If so, what made you change your mind? (It was this, wasn’t it?)