Boston, MA 04/23/2014 (wallstreetpr) – Netflix, Inc. (NASDAQ:NFLX) has come out clear, categorically opposing the proposed merger between Comcast Corporation (NASDAQ:CMCSA) and Time Warner Cable Inc (NYSE:TWC). The basis of the opposition lies on the fact that Netflix feels that the merger will result in Comcast having a greater access to high internet speeds in the majority of parts in the U.S.
This according to Netflix is undue advantage that should make the market uncompetitive. Comcast has already tabled a $45 billion bid to acquire Time Warner, awaiting regulatory approval.
Netflix Objections to the Merger
Netflix, Inc. (NASDAQ:NFLX) is vehemently opposed to the idea as the merged entity will result in a subscriber base totaling 30 million across the country. Comcast on its part differs completely with Netflix’s suggestions maintaining it paid for a more direct connection to the service provider network.
Netflix seems to be all out war in the industry especially with its recent remarks that suggest AT&T Inc. (NYSE:T)’s U-verse high speed service might not be as fast as the previous high speed connections. Netflix has now asked AT&T to deliver high speed internet connections to counter the increasing customer complaints.
Netflix Raising Service Fees
Netflix has also confirmed it is raising the price for its services in the U.S, by between $1 and $2 per month for new members. Netflix has decided to increase its prices to other geographies after such an increment failed to affect subscribers in other geographies such as Ireland. Already subscribed members will be charged the same amount for a generous period.
Netflix’s video streaming segment continues to perform extremely well in the market having registered strong first quarter financial results. The first quarter saw the company register a 24% year over year increase in revenue that came in at $1.27 billion.
The volume of domestic streaming subscribers came in line with guidance estimates at 35.67 million with 2.25 million new additions. International streaming subscribers continue to grow with Netflix, Inc. (NASDAQ:NFLX) recording 1.75 million net new additions for the first quarter.
