Admitting failure is never easy for anyone. For corporate players it is even harder. It is even harder yet when that admission means rolling back an announcement (even an announcement as seemingly ill thought out as this one.) So, this couldn’t have been a fun excercise for Netflix. There is no doubt in my mind that it was the right thing to do. The only fault I have with this announcement was that they didn’t roll back enough of their recent mistakes. So this was a pretty safe move. They were wrong, there was pretty much no one out there defending their recent moves so retreating was the right move. Interesting watching a big company swallow their pride though.
~e