Wow, so many angry people from the entitled generation.
Lets look at this. Are there any competitors as good as Netflix who have better prices? I don't think so.
I'm not asking the taxpayers to pay for it, or even the government to regulate the prices so I don't see what this has to do with an "entitlement".
This is actually the free market at work. Netflix raised thier prices, so people drop thier service because they don't think it's worth the price any more. If enough people drop the service and Netflix starts to loose money, then they will have to find a way to offer the service at a lower price. Same with the media companies. If the higher prices result in lower revenue due to less buyers, then they will need to re-think thier pricing structure. I believe the consumer is best served by the low price/high volume model like Walmart or Costco. Better to make 10 cents each on a million movie viewings, than to make $20 each on a few hundred viewings.
As for competitors being as good, it really depends. If you were a light user of the the Netflix service, then Redbox or pay-per-view might actually be cheaper.