Netflix Shares Reach Record High in the Midst of an Outage

By

Netflix’s shares may be soaring but its website could use a little tune-up. Just hours after announcing that it added 1.9 million subscribers during its third-quarter, 200,000 more than it had anticipated three months ago, the media company’s website experienced an outage with many subscribers unable to access the online video service. According to CNET, some customers were presented with an error message reading, "The Netflix website and the ability to instantly watch movies are both temporarily unavailable." 

The occasional outage, however, isn’t expected to impact Netflix’s staggering growth. The company now has nearly 17 million subscribers who use its service to rent TV shows and movies. In fact, Netflix recorded a 31 percent increase in revenue and watched as its shares jumped 11 percent after several analysts raised price targets on the stock.

The shares rose as high as $174.94, exceeding their previous 52-week peak, before later settling back to $170.84 in midday trading, which was still up $17.69 for the session. The stock has more than tripled in price this year.

Netflix’s plans for world domination have already begun. In late September, the company announced that, starting immediately, Canadians will be able to stream an unlimited number of movies and television shows from Netflix’s library, for a flat fee of $7.99 a month.

Unfortunately, the milestone was commemorated with a street celebration gone awry after reporters discovered that actors hired by Netflix had been instructed to hype the arrival of the company’s video streaming service. In fact, according to The Financial Post’s website, it was during a scheduled press event in Toronto that reporters from Canadian media apparently noticed that some of the responses from people in attendance sounded like “canned responses.” The actors also were urged to fill a variety of stereotypical roles, including “mothers, film buffs, tech geeks, couch potatoes,” according to the one-page handout given to them.

Not that Netflix has to worry about the odd outage or marketing snafu. The video-streaming service in Canada is already on track to become profitable in 2011.




Edited by Erin Harrison
Get stories like this delivered straight to your inbox. [Free eNews Subscription]

TechZone360 Contributing Editor

SHARE THIS ARTICLE
Related Articles

How Is AI Bringing Intelligence to Traditionally Manual Inspection Workflows?

By: Contributing Writer    10/16/2026

For insurers, rental companies, fleet operators, and remarketing businesses, vehicle inspections are a part of everyday operations. Much of that proce…

Read More

3 Factors That Can Dramatically Impact Your Microsoft Intune Spend

By: Contributing Writer    10/13/2026

With remote and dispersed work here to stay for the long term, secure endpoint management has become a big headache for IT and cybersecurity teams. Th…

Read More

Why Threat Modeling Fails Without an Attacker's Perspective

By: Contributing Writer    10/13/2026

A security team might spend weeks mapping attack paths and planning defenses, only to be breached through a web application nobody remembered was stil…

Read More

From AI Experiment to Enterprise Strategy: Making Claude Work at Scale

By: Contributing Writer    10/12/2026

Artificial intelligence often enters an organization through experimentation. One employee discovers a useful prompt, another tests document analysis,…

Read More

SIEM needs exposure context to keep pace with AI-era threats

By: Contributing Writer    10/6/2026

Security information and event management (SIEM) platforms give security operations center (SOC) teams a central place to collect and analyze security…

Read More