Wednesday, Dec. 14, 2011

Reed Hastings

With all the hoopla surrounding Netflix this year, CEO Reed Hastings at least deserves some credit for listening to his customers. After raising monthly prices and splitting the DVD-by-mail service into a new company called Qwikster, Hastings swiftly backtracked on the decision when customers complained about having to go to one site for instant-streaming entertainment and another for DVDs. Hastings, whose company is at the forefront of a sea change in the way we buy and view entertainment, showed that he values feedback (and good p.r.), but by refusing to reinstate the lower prices for Netflix memberships, he also demonstrated that he is intent on trying to turn a profit.