NetFlix Lowers DVD Rental Pricing
Five months after raising its standard DVD rental subscription rate to $21.99, NetFlix has backtracked on the decision. Starting November 1, the company will now offer 3-at-a-time DVD movies for $17.99, in a bid to keep competitive with rental offerings from Blockbuster and Wal-Mart.
"Since our price increase in June, some of our members have expressed concerns about the new pricing," NetFlix wrote in an e-mail to subscribers. "We've listened to this feedback and are pleased to inform you that we're lowering the price of your Netflix 3-at-a-time program."
Although NetFlix currently boasts 2.2 million subscribers, the company has recently faced increased competition from rivals. Rental giant Blockbuster also announced last week plans to lower its DVD pricing.