Dulles, VA - AOL announced yesterday their new 1000 hours/month
Platinum plan for $23.95/month. They also announced that the
unlimited time plan would be renamed the Gold Plan and be reduced
to 750 hours/month, but would still have a monthly fee of $21.95.
CEO Steve Case said, "This is a fabulous opportunity for our
customers. We are offering them 33% more time online for only
9% more. This is the truly the deal of the century."
Many of AOLs current customers agree. The new plan was only
announced yesterday and already 300,000 AOL customers have upgraded
to the new plan. "This is awesome," said Rufus4562. "I
haven't seen a deal this great since Sprint offered 100,000 minutes
a month for $2000. That's only 2 cents a minute!"
The new plan was also attracting new users to AOL. "I'm
not sure how many hours per month I'd spend online," said
new Platinum Plan member Karen Fitzsimmons, "but I'm certain
that platinum is better than gold, and I'm pretty sure that 1000
hours is better than 750."
Not all customers are happy about the new plan. "I keep
my computer connected 24/7 and the unlimited plan was perfect. Now
that it's only 750 hours a month I'm not sure what I'm going to do," said
mAtHwIz, "I think AOL is going to loose (sic) a lot of
customers over this. I'm thinking of starting a boycott."
Most Wall Street analysts stated that the 1000 hour plan was very
attractive to consumers. Stan Williams who follows AOL for
Merrill Lynch upgraded the stock to a strong buy from a buy and added, "The
initial adoption of the plan has been very positive and with the
math skills of AOL users we expect it to continue. This should
be very positive for earnings going into the fourth quarter and beyond." AOL's
stock was up 1/2 on the news.
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