"I Messed Up," Netflix CEO Says

(CNN) -- Netflix Co-founder and CEO Reed Hastings made a public apology in his blog Sunday after a customer outburst against a hike in prices."I messed up," Hastings said.

"I owe everyone an explanation."Hastings posted the mea culpa after a barrage of customer backlash that caused Netflix stock to plunge.Netflix subscribers quit the service in droves last week after the unexpected increase.

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