Crisis after crisis seems to be the trend this year in financial news. We’ve had our problems here in the United States, and now the Eurozone and Greece are wading through troubled waters. What all this financial turmoil means for us is that inflation will be taking hold sooner or later.
In fact, there are already signs of inflation in the digital services arena with Netflix raising its prices, and now Redbox. People flipped out over the increased costs and Netflix lost nearly 1 million members in a short span of time.
But is it really that big of a deal? The price increases are not that significant and it seems like people are more upset that the prices were raised at all, rather than by how much they were raised. In the case with Redbox, a 20% increase is pretty significant, but 20% on a dollar is still just 20 cents more per rental.
Do you remember when you had to truck into a big box store, wait in a long line on Friday night, and then shell out $5 to rent a movie on VHS for 5 days when you knew you were only going to watch it once and return it the next day? It seems kind of silly to get so upset about a slight increase in a service that has made our lives so much easier. After all, the companies could easily charge twice what they do now and still compete with big box stores.
In this piece by Read Write Cloud titled Stop Whining About Netflix and Redbox Price Increases, the author writes about some of the problems that led to the price increases and some reasons why we really have nothing to complain about.
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(photo credit: Shutterstock)