Netflix CEO Reed Hastings has announced the separation of their DVD and video streaming services following the steep drop in Netflix's stock price last week. Their DVD-by-mail service will now be called Qwikster, and the streaming service will maintain the Netflix brand. Customers will still be able to subscribe to both, however two sites will not be integrated anymore. Qwikster will now offer video game rentals through the mail, which has been a requested feature on Netflix for years.
Reed Hastings wrote via his blog:
"For the past five years, my greatest fear at Netflix has been that we wouldn't make the leap from success in DVDs to success in streaming. Most companies that are great at something - like AOL dialup or Borders bookstores - do not become great at new things people want (streaming for us) because they are afraid to hurt their initial business. Eventually these companies realize their error of not focusing enough on the new thing, and then the company fights desperately and hopelessly to recover. Companies rarely die from moving too fast, and they frequently die from moving too slowly.
Read the full article at: Netflix Breaks Off DVD Rentals Into Qwikster from Movie News - MovieWeb
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