apology

Netflix CEO Apologizes for Rate Increase, Announces Company Will Split Into Two Divisions
Netflix CEO Apologizes for Rate Increase, Announces Company Will Split Into Two Divisions
In the wake of unpopular rate increases that caused customers to cancel subscriptions in droves and resulted in the company stock nosediving, Netflix CEO Reed Hastings apologized in a blog post on Sunday. “I messed up,” he said. “I owe everyone an explanation … In hindsight, I slid into arrogance based upon past success.”